TAXMAN Posted October 4, 2023 Report Share Posted October 4, 2023 To my MD friends. TP was a Virginia resident. Owned real estate in MD. TP died. Administrator had 3 appraisals for real estate. He averaged them and showed this value on Inventory file in VA. Now real estate is being sold for this number. After expenses it is determined to be a loss. Question? must Admin file a nonresident fiduciary(504nr) in MD. Can you shed some light on this? Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted October 4, 2023 Report Share Posted October 4, 2023 505 is the nonresident individual return and yes it needs to be filed. MD should withhold tax at sale for being nonresident, but, if you file the right forms timely, you can convince MD to not withhold any taxes, since the MD property will generate a loss. I would still file the zero tax due MD return though. Here are the pertinent forms and instructions: https://www.marylandtaxes.gov/individual/income/forms/2022_Withholding_Forms.php Quote Link to comment Share on other sites More sharing options...
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