You'll need to sign in or create an account to connect with an expert.
You don't need the "form" in TT/Maryland, you only have to enter the amount of the MD withholding again so that it can be put into the correct line on Form 502 or 505. Here's the whole process:
Enter the Maryland tax on Form MW506NRS in the federal return so that the withholding can be included in your federal itemized deductions. TT/Maryland will pick it up from there.
Federal Taxes (or Personal if H&B)
Deductions and Credits
I'll choose what I work on
Scroll down to Estimates and Other Taxes Paid
Select Other Income Taxes
Under Other Income Taxes Paid in 2016 is
Withholding not already entered on a W-2 or 1099
Enter the $$ withheld in the State box and select Maryland from the dropdown
Now, In TT/Maryland click through to the screen Take a look at Maryland credits. On that screen select Maryland Withholding on Real Estate Sales. Click Yes on the next screen and enter the withholding on the following screen.
Thank you for this! Tracked this down and locked in a $1,964 refund.
Some additional notes on this:
You can avoid this step by filling out Form MW506R, "Application for Tentative Refund of Withholding on 2020 Sales of Real Property by Nonresidents" at least 90 days after you close on the sale of your property.
MW506R can be found here:
https://www.marylandtaxes.gov/individual/income/forms/2020_Withholding_Forms.php
If you don't file MW506R by Dec 1 of the year in which you sold your property, you'll have to follow TerryA's directions above to receive your refund/excess withholding (like I did).
Cheers!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
RustyShackleford
Level 3
Loyas5
New Member
gxt1
Level 3
dcswinson
New Member
pcaldridge
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.