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dascpa
Level 11
January 21, 2021
Question

MD 510 New Resident Tax Form Error

  • January 21, 2021
  • 6 replies
  • 29 views

MD passed a law whereby the entity can pay a state tax on resident members and take a Federal tax deduction, thereby bypassing the SALT limitation.  The IRS approved this method for MD.

ProSeries did their final form MD 510 update today (printing yes, Efile no). Efile will happen Feb 5th.  I see an error that Form 510 Line 20 is refunding entire tax payment when there is no refund allowed.  It just passes through to the K-1 owners. Am I incorrect or if correct, how do I tell ProSeries of their error?  I cannot get through to anyone on the phone.

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6 replies

IRonMaN
Level 15
January 21, 2021

The most reliable source for information sharing lately seems to be @Orlando11 

Slava Ukraini!
dascpa
dascpaAuthor
Level 11
January 21, 2021

Thanks, but how do I contact him?

Level 8
January 21, 2021

The @Orlando11 grabs my attention 🙂 ..

I don't know much about content, but know who to ask.. stay tuned

sjrcpa
Level 15
January 21, 2021

 I wish you get get refunds on MD Form 510, or at least have them applied to next year estimated tax.

The more I know the more I don’t know.