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OK are there any Maryland S-Corp tax preparers out there that can help me understand the calculation of S-Corp estimated taxes?
I see the Form MD 510D is calculating estimated taxes for the S-Corp. What if this is a direct roll into the Individual Tax Return?
I am not understanding why there is a calculation for estimated taxes.
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If the S Corp makes the pass through entity (PTE) tax election, the S Corp pays tax , including estimated tax for all shareholders.
If it does not make the election, the S Corp pays tax, including estimated tax, for the MD nonresident shareholders.
The more I know the more I don’t know.
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Thank you! I have to find in Lacerte where the Pass through entitiy is NOT making the estimated taxes.
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Built in Gain tax is another possibility.
The more I know the more I don’t know.
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Thanks no built in gain.
Looks like I have to go to Screen 10 and put "-1" in the estimates quarterly fields.
