Maryland Investors with Out of State Rentals

[Scott Davidson]

Hi All,

I wanted to provide some info for Maryland investors who owned out of state rentals in 2013 and/or 2014. A few years back Maryland lost a case in the Supreme Court because they did not allow a credit against county/city income taxes for taxpayers with out of state income. Taxpayers can amend their 2013 and 2014 to obtain a refund for the tax imposed at the county level on the out of state income. You and your accountant may have already filed protective claims or amended returns, but to those who didn't, I wanted to pass along the info so you could get some money back. Discuss with your CPA or feel free to reach out to me with any questions. 

Below is the FAQs directly from the Maryland Comptroller, which includes a link to the Form 502LC. This form is required along with your amended Maryland return. 

http://taxes.marylandtaxes.com/Individual_Taxes/In...