Real Estate Withholding Return for 2026

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The document is a Real Estate Withholding Payment Voucher (Form REW-1-1040) for the transfer of Maine real property by individual sellers or sole proprietors. It outlines the requirements for buyers to withhold 2.5% of the sales price as estimated income tax when purchasing property from nonresidents. The form must be completed for each seller, detailing their information, property details, and withholding amounts. It also includes instructions on filing, exceptions to withholding, and the necessity for sellers to file a Maine income tax return if applicable.

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Click ‘Get Form’ to open the Real Estate Withholding Return in the editor.
Begin by entering the seller's name and Social Security Number in Section 1. If married and filing jointly, include the spouse's details as well.
In Section 2, provide the current mailing address of the seller. Ensure accuracy to avoid any delays.
Section 3 requires you to detail the physical location of the property being transferred. Include street address or map details if necessary.
For Section 6, enter the total consideration (sales price) of the property. This includes all financial aspects related to the sale.
In Section 9, calculate and enter the amount withheld for this seller based on their ownership percentage and applicable withholding rate.
Finally, ensure all signatures are completed in Section 10 through 12 before submitting your form.

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Versions	Form popularity	Fillable & printable
2023	4.7 Satisfied (36 Votes)
2022	4.8 Satisfied (73 Votes)
2021	4.3 Satisfied (76 Votes)
2020	4.3 Satisfied (224 Votes)
2019	4.3 Satisfied (35 Votes)
2018	4.4 Satisfied (90 Votes)
2017	4.4 Satisfied (279 Votes)
2011	4 Satisfied (31 Votes)

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What does withholding mean in real estate?

Real estate withholding is a prepayment of income (or franchise) tax due from sellers on the gain from the sale of California real property. It is not an additional tax on the sale of real estate.

What are the risks of a buyer with FIRPTA?

Although the tax charged comes from the sales price, the responsibility to withhold is on the buyer. If the buyer fails to comply with the FIRPTA withholding requirements, then they may be held liable for the tax owedin addition to penalties and interest.

What is 593 real estate withholding?

Form 593, also known as the Real Estate Withholding Certificate, is a document used in California real estate transactions. It serves as a mechanism for the collections of state income tax on the gain from the sale or transfer of real property.

What is FIRPTA and how do I avoid it?

FIRPTA was enacted in 1980 to ensure that foreign investors pay taxes on gains from the sale of U.S. real property. Under FIRPTA, the buyer of the property must withhold up to 15% of the sales price and remit it to the IRS.

Does the buyer have to pay FIRPTA?

FIRPTA withholding requires buyers to retain and remit to the IRS a percentage (generally 15%) of the purchase price when acquiring US real property from foreign sellers. This ensures proper tax collection on gains from these sales and applies to most real estate transactions with foreign sellers.

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