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- MD Form 511 overpayment
MD Form 511 overpayment
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TAD
Level 2
09-07-2021
01:20 PM
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S corp overpayment on Maryland Form 511. According to MD instructions, should be able to apply this overpayment to TY 2021 estimates. However, am not able to make this happen; return showing refund on Line 19. Preference is to report overpayment as applied to estimated tax for 2021, Line 18
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1 Comment 1
clmcpa
Level 2
09-07-2021
02:07 PM
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The input is on screen #42.271, the last item in the MISCELLANEOUS section. The input line is called "Overpayment applied to next year (Form 511). (I have no idea why the input isn't on screen #10.) In the S-corp module, you can select 1 to apply all, but in the 1065 module, yo must enter the exact amount, so be careful. Also, the overpayment applied is not currently being taken into account when the program calculates the 2021 estimates needed, and it's not reflected on the instruction letter.
