Form 502h - Historic Property And Heritage Area Preservation
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1
2MARYLAND
FORM
20__
502H
HISTORIC PROPERTY AND HERITAGE AREA PRESERVATION
For tax years beginning prior to January 1, 2002
Taxpayer identification number
Name and address of taxpayer(s)
YOUR MARYLAND RESTORATION AND QUALIFIED COSTS MUST BE CERTIFIED BY THE MARYLAND HISTORICAL TRUST
Attach a copy of your approved Heritage Preservation Certification Application and Form 502H to your tax return.
REMINDER: All photographs are to be sent to the Maryland Historical Trust at:
100 Community Place
Crownsville, Maryland 21032-2023
For further information or to obtain applications, contact the Maryland Historical Trust at 410-514-7630.
Do not send photographs to the Revenue Administration Division.
PART A: SUBTRACTION FOR PRESERVATION OF HISTORIC PROPERTY
SEE INSTRUCTIONS ON PAGE 2 OF THIS FORM
WORKSHEET A:
TO BE USED FOR EXPENDITURES MADE PRIOR TO JANUARY 1, 1997
DESCRIPTION AND LOCATION
AMORTIZATION
DATE OF
TAXABLE MONTHS
RATE OR %
SUBTRACTION FOR
SUBTRACTION ALLOWED
OF PROPERTY
BASIS
BASIS
IN THIS PERIOD
(Max. 20%)
THIS YEAR
IN PRIOR YEARS
(1)
(2) (See instructions)
(3)
(4)
(5)
(6)
(7)
TOTAL
PART B:
CREDIT FOR HERITAGE PRESERVATION
PART C: MORTGAGE CREDIT CERTIFICATES
AND TOURISM AREAS
SEE INSTRUCTIONS ON PAGE 4 OF THIS FORM
SEE INSTRUCTIONS ON PAGE 4 OF THIS FORM
WORKSHEET C:
TO BE USED BY
WORKSHEET B:
FOR EXPENDITURES FOR REHABILITATION
LENDING INSTITUTIONS RECEIVING
COMPLETED AND CERTIFIED AFTER DECEMBER 31, 1996
MORTGAGE CREDIT CERTIFICATES
AND DURING THE TAX YEAR COVERED BY THIS FORM
RATE
CERTIFIED
DESCRIPTION AND LOCATION
AMOUNT
AVAILABLE
DESCRIPTION AND LOCATION
(SEE
REHABILITATION
OF CREDIT
OF PROPERTY
CREDIT
OF PROPERTY
EXPENDITURES
INSTRUCTIONS)
(2)
(1)
(3)
(4)
(1)
(2)
PART I: Expenditures for Maryland rehabilitation completed and certified after June 30, 2001
PART II: Expenditures for Maryland rehabilitation completed and certified prior to July 1,
2001 and/or expenditures for reciprocal state property.
TOTAL
PART III: Credit carried over from prior years ..........................................
CREDIT CALCULATIONS
1.
Add amounts from Parts II and III, column 4, and enter here ........... __________
4. Non-refundable Heritage Area Credit. ................................................. _________
Enter the amount from line 4 on line 6 Part F of Form 502CR
2. Enter the State tax from line 24 of Form 502 (less amounts
if filing Form 502 or Form 505, or line 1 Part G of Form 500CR
from lines 25 and 26 of Form 502 and line 6, Part F of Form 502CR),
if filing Form 500 or Form 504.
line 32 of Form 505 (less amounts from lines 33 and 34 of Form 505
and line 6, Part F of Form 502CR), line 30 of Form 504 (less amount
5. Enter the amounts from Part I, Column 4. .......................................... _________
from line 38) or line 9 of Form 500. ..................................................... __________
This is your refundable Heritage Area Credit. Enter this amount
on Part H, line 1 of Form 502CR, line 39 of Form 504 or line 10d
3. Subtract line 2 from line 1. If less than 0, enter 0. ............................ __________
of Form 500.
If line 3 is equal to 0, your non-refundable Heritage Area Credit is
the amount on line 1. Enter on line 4.
6. Enter the amount from line 3. .............................................................. _________
If line 3 is greater than 0, your non-refundable Heritage Area Credit
This is your Heritage Area Credit carryover. If the amount is
is limited to the state tax amount shown on line 2. Enter on line 4.
greater than 0 it may be carried forward for ten years from the
date of original certification.
COM/RAD-015
1
Rev. 9/01
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