Form 502v Use of Vehicle for Charitable Purposes - Maryland

Form 502v Use of Vehicle for Charitable Purposes - Maryland

What Is Form 502v?

This is a legal form that was released by the Comptroller of Maryland - a government authority operating within Maryland. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 502v?
A: Form 502v is a form used in Maryland for reporting the use of a vehicle for charitable purposes.

Q: Who needs to file Form 502v?
A: Individuals in Maryland who used their vehicle for charitable purposes and wish to claim a deduction on their state income tax return.

Q: What qualifies as a charitable purpose?
A: Charitable purposes include volunteering for a qualified charitable organization, providing transportation for the elderly or disabled, and certain other volunteer activities.

Q: How do I fill out Form 502v?
A: You will need to provide information about the charitable organization, the dates of use, and the number of miles driven for charitable purposes.

Q: What is the deadline for filing Form 502v?
A: Form 502v must be filed by the same deadline as your Maryland state income tax return. The deadline is usually April 15th, but may vary.

Q: Is there a limit to the deduction I can claim?
A: Yes, there is a limit to the deduction you can claim based on the number of miles driven for charitable purposes. The current rate is $0.14 per mile.

Q: Do I need to keep any records to support my deduction?
A: Yes, you should keep records such as receipts, mileage logs, and any other documentation that supports the use of your vehicle for charitable purposes.

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Form Details:

  • Released on January 1, 2017;
  • The latest edition provided by the Comptroller of Maryland;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;

Download a fillable version of Form 502v by clicking the link below or browse more documents and templates provided by the Comptroller of Maryland.

Download Form 502v Use of Vehicle for Charitable Purposes - Maryland

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  • Form 502v Use of Vehicle for Charitable Purposes - Maryland, Page 1
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