2023 Form REW-5 - Maine-2026

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  1. Click ‘Get Form’ to open the 2023 Form REW-5 in our editor.
  2. Begin by entering the applicant’s name and mailing address. If applicable, include your spouse’s name.
  3. Fill in the SSN or federal EIN, along with a daytime phone number and email address for communication.
  4. List all sellers' names and the buyer(s) names as per the Purchase and Sale Agreement.
  5. Provide the physical address of the property being sold, including municipality/township details.
  6. Indicate the date property was acquired by the seller and select the method of acquisition (purchase, inherited, gift).
  7. Detail allowable closing costs from original purchase and any capital improvements made to the property.
  8. Enter total sales price and closing date of current pending sale, along with estimated allowable current closing costs.
  9. If applicable, provide information on rental/commercial use during ownership and accumulated depreciation.
  10. Finally, review all entries for accuracy before signing and submitting via email or fax as instructed.

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Maine state tax forms and instruction booklets can be requested at 207-624-7894. Additional forms can be printed at .
Current law allows for a sizable exclusion from the capital gains tax on profits from the sale of your primary residence. For single filers, the first $250,000 of profit is exempt from the tax, while married couples filing jointly wont have to pay any capital gains on up to $500,000 in profits from a home sale.
The state of Maine taxes capital gains at the same rate as ordinary income, with rates up to 7.15%.
The buyer of the property will withhold and remit the Real Estate Withholding money to Maine Revenue Services using form REW-1. The amount to be withheld is equal to 2.5% of the sale price.

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