What are the limits for Maryland's First Time Homebuyer Savings Account subtraction?

The First-Time Homebuyer Savings Account must be opened for the sole purpose of paying costs for the purchase of a home in the state of Maryland. You can subtract up to $5,000 and the interest earned during 2025. Beginning in 2025 Maryland requires that the amount contributed and the amount of earnings be reported separately.

This subtraction may be claimed for up to 10 years, and the total earnings subtracted may not exceed $50,000 during that 10 year period. For further information, please see the First-Time Homebuyer Savings Account tab on Maryland's website .