How do you enter a 502CR for Maryland?

[bryanc767]

How do you enter the 502CR for Maryland? I see Turbotax supports this form yet I can not easily jump to it?

[ErnieS0]

There is no jump to for Maryland Form 502CR because the form is used for multiple credits. Most of these credits are on the screen Take a look at Maryland Credits.

• Tax Credits for Income Taxes Paid to Other States and Localities (Other State Tax Credit Summary)
• Credit for Child and Dependent Care Expenses (this transfers if you have a daycare credit on federal taxes)
• Quality Teacher Incentive Credit (Take a look at Maryland Credits)
• Credit for Aquaculture Oyster Floats (Take a look at Maryland Credits)
• Long-Term Care Insurance Credit (Take a look at Maryland Credits)
• Credit for Preservation and Conservation Easements (Take a look at Maryland Credits)
• Venison Donation (Take a look at Maryland Credits)
• Community Investment Tax Credit (Take a look at Maryland Credits)
• Endow Maryland Tax Credit (Take a look at Maryland Credits)
• Preceptors In Areas With health Care Workforce Shortages Tax Credit (Take a look at Maryland Credits)
• Independent Living Tax Credit (Take a look at Maryland Credits)
• Endowments of Maryland Historically Black Colleges and Universities Tax Credit (Take a look at Maryland Credits)

[bryanc767]

Thanks, that is true the 502CR is the general form to enter in the credits. 
My question was related to PART CC- REFUNDABLE INCOME TAX CREDITS - Student Loan Debt Relief Tax Credit.

It turns out, you have to print and paper file your taxes + supporting documents for this credit

[Emg1111]

Were you able to complete all the calculations and such with TurboTax and then just print and mail with the supporting documentation, or did you have to compete the entire return by hand, outside of TT, to get the credit to work?

[bryanc767]

I had to complete the entire 502CR form by hand and include that + retrieving payment history from the Fed Loan Servicer website showing the payments made in full (this part is a little tricky, you will need to modify the date range so you ONLY extract the payment which is equal to your 502 credit amount that the State gave you. I then had to send all of this via Fedex (I wanted a tracking number and insurance) to the IRS.

That said, most of the information on the 1st page of 502CR is pulled straight from your tax document. Heres the fields I filled in:
Page 1: Fields 1-14 (mostly all from your tax document after TT creates it)
Page 2: Field 5
Page 3: Part AA - Field 1
Page 4: Part CC - Field 1 and Field 8
Everything was blank - the state accepted this and in my portal it shows the verification is completed. Please keep in mind, taxes are different for everyone, just because I didnt have anything in the blank fields doesn't mean you wont. 

[BillM223]

It is possible to e-file your return this year (tax year 2021) by attaching a PDF of the MHEC Certification and Verification. You can do this in both the Online products and the CD/download products (I am sure about Windows, but I don't know about Mac).

In the Maryland interview, on the Take a look at Maryland credits screen, look down to Student Loan Debt Relief Act and press Start.

On the next screen, enter the credit amount.

Then proceed through the rest of the Maryland interview. Eventually, TurboTax will tell you, "Looks like you need to attach a PDF". Click on Edit (Online) or whatever the CD/download product ask for (don't worry, it's obvious), and then follow the instructions to upload the PDF file to be attached to your return.

@bryanc767

[R3DBRDS1]

HI!

I was able to follow the prompts to complete the 502CR for the Student Loan Tax Credit.  Turbo Tax prompted me to upload the PDF to the Tax Return; however, when I review the document prior to eFiling the attached PDF isn't included.  

Should the attached PDF be displayed during this review? 

[BillM223]

What TurboTax e-files to the state is an XML file; this is quite different from the PDF file that is the printable copy that you should retain.

An XML is a data file with tagged data and no lines or boxes or shading. This is used in e-filing because to e-file a return, the elements of your tax return have to be expressed in the tags (and only the tags) that the state allows and also in the order that the state wants. This sharply increases the likelihood that the state will correctly receive your data.

Having said that, the PDF for the student Loan Tax Credit will be attached to the XML file (which you won't ever see). I have no idea if it will be attached to the PDF print copy, but since you already have a copy, it's not needed by you. 

The net result is that you should assume that it was included with the XML copy e-filed with the state.

[R3DBRDS]

Thank you so much for that explanation - much appreciated.  You are amazing!

Happy Tax Season @BillM223 !

[MikeFletch]

I think I am elegible for the Senior Credit on Maryland Form 502CR, Part M. How can I claim it in Turbotax?

[ErnieS0]

TurboTax should automatically generate the Maryland Senior Credit if you are eligible.

On the Maryland screen “Take a look at Maryland credits.” you should see an amount if you are eligible on Senior Tax Credit. 

You can Start or Revisit.

A resident individual who is at least age 65 may claim a nonrefundable credit against the State income tax if the taxpayer's federal adjusted gross income does not exceed $100,000. 

The amount of the tax credit is equal to $1,000.

For married filing jointly, qualifying widow(er), and head of household whose federal adjusted gross income does not exceed $150,000, the credit amount is $1,750 (reduced to $1,000 if only one spouse filing jointly is at least age 65).

@MikeFletch

[wnorris3]

Individual goes to school in another state and lives in Maryland.

Why does TT require her to complete a 502CR? She did not work in another state and pay taxes just

went to college.

[wnorris3]

Should she just fill in zero's? TT is telling her to complete, it's showing up as an error on the review...

[BillM223]

Then how did TurboTax know that she went to school in another state? You must have entered a form with the other state's withholding (meaning that she did work out of Maryland) or she indicated that she lived in another state besides Maryland, which would not be correct if all she did was go to college out of state.

A college student who goes out of state to school is still considered to live with her parents.