To find Maryland's Scenic Easement Tax Credit in TurboTax's Deluxe Maryland State package, follow these steps:
- Log in to TurboTax: Start by logging into your TurboTax account.
- Select Maryland: Scroll to the bottom of the screen and click on "States," then select Maryland.
- Enter Address Information: Navigate through the address, city, county, and other relevant information.
- Complete the Income Section: Enter all your income details in TurboTax.
- Navigate to the Credits Section: After completing the income section, proceed to the Maryland state tax section. Look for "Credit for Conservation Easement" under the Maryland Credits.
- TurboTax Will Complete the Necessary Forms: TurboTax will guide you through the process and automatically complete the necessary forms, including the Scenic Easement Tax Credit. Just make sure to follow the steps within the Maryland state tax section and provide all required information.
This tax break is given to individuals who donate an easement to the Maryland Environmental Trust or the Maryland Land Preservation Foundation to preserve open space and important ecosystems. It can be worth up to $5,000 per year for up to 15 years, depending on the value of the property.
