Token #1087080 submitted to TurboTax
On TurboTax, MD Form 502b Line 17b the figure is $7,847 which I am guessing is calculated in the following manner: $10,000 MD Limitation minus my Property Taxes $2,153 = $7,847 (amount entered by Turbo Tax on Line 17b).
I've read MD Tax instructions on how to calculate Line 17b and is kind of confusing and on MD's Tax website actually has this phrase "Maryland will accept in reasonable interpretation of limitation reported on line 17b".
Last year (2021) I compared TurboTax MD Form 502 Line 17b with a tax preparer from a local MD Comptroller Office. The MD Comptroller actually put in $10,000 rather than what TurboTax had ($7,782; $10,000 minus property tax).
What is the proper way to calculate MD 502 Line 17b?
Any assistance or clarification on calculating MD Form Line 17b would be greatly appreciated.
