MD PV Form - first time filer

Forum|Forum|6 years ago
March 30, 2020
7 replies
22 views

Hello,

If I am making one tax payment only for $5000 lottery win, should I select both 1 and 1a on MD Form PV shown below? The MD website said I can submit Form PV.

1. Estimated payment/quaterly (502d)

1a. First time filer or change in filing status

Instructions says:

PAYMENT TYPE

Check ONLY one box (1,2,3 or 4) for type of payment. If Box 1 is checked, also check box 1a., if first time estimated filer or filing status has changed.

1. Estimated payment/quaterly (502d)

1a. First time filer or change in filing status

2. Extension Payment (502E)

3. Payment with restident return (502)

4. Payment with nonresident return (505)

KatrinaB48

Level 15

Since you are reporting this one-time lottery win that was included as income on your 2019 Maryland return, you should select option 3. The first option does not apply as it is used to make an estimated tax payment.

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cchoi2006Author

Level 2

Thank you! So it was very recent (in 2020) and MD says I have to pay it within 60 days. I thought I would have to select option 1, but I should select option 3?

For prizes of $500 to $5,000, you must file a Maryland Payment Voucher Form https://www.marylandtaxes.gov/forms/19_forms/PV.pdf and pay taxes on those winnings within 60 days of receiving your prize