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Help? Maryland K-1
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TaxGirl3
Level 5
03-23-2022
09:01 AM
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For Maryland Form 511 (S-Corp) Line 2 PTE Taxable Income, the instructions state the amount is federal taxable income, plus the federal deduction attributable to state taxes.
This same amount is being reported on the MD K-1, Section A Line 1 as income from federal K-1, even though this line should not be increased by state taxes. The instructions state "Enter federal distributive or pro rata share of income from federal Schedule K-1". Ditto for Line 2.
Am I missing something?
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