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Level 2

Question

MD Amendment for Unemployment

Forum|Forum|5 years ago
February 19, 2021
13 replies
0 views

Hello if we filed before the Maryland Relief Act was passed that allows unemployment to not be taxed by the state how do we get TurboTax to help us file the amendment to exclude state tax owed on unemployment benefits?

LenaH

Community Manager

Yes, you will be able to amend your return to reflect the RELIEF Act and get a refund of any taxes paid for your unemployment compensation if you are eligible. However, the forms must first be revised by the State of Maryland. TurboTax will then update the Maryland state return in the program.

Per the State of Maryland on 2/16/21, the Comptroller began accepting tax year 2020 returns for processing prior to the enactment of the RELIEF Act. Due to the emergency nature of this bill, both individual and business tax forms will be created or modified to account for its provisions.

Once the forms are updated, you will be able to amend your return.

Also, please keep in mind that the tax free unemployment waiver only appears to apply to single filers who reported under $75,000 or joint filers who reported under $100,000.

For more information, please see the Relief Act Tax Alert.

[Edited 3/2/2021 l 10:21AM]

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BeckyPultz

Level 2

According to the Comptroller of Maryland's website, to get Individual Subtractions from Income (for qualifying individuals), "individuals must complete Maryland Form 502LU and file it along with their return."

Irene2805

Level 15

If a taxpayer has already filed a MD return and it has been accepted, they must amend their MD return to get the benefit of the change.

HOWEVER, the Comptroller of MD (tax division) must first set up the rules for how the changes to the tax forms will be implemented and then will they tell the tax software companies how to change their software--both the original returns (502, 505) as well as amended RETURNS (502x, 505x).

When the changes have been implemented please see this TurboTax Help article for assistance in amending your MD return: I need to amend my state return

Stellarae69

Level 2

How will I know when the changes for md state unemployment are made for an amendment

BeckyPultz

Level 2

I've been checking the Comptroller's website for the 502LU form and instructions. They aren't published, yet. I see that when I opened my TurboTax today, there was a Maryland software update. Not sure what was on that. Maybe TurboTax experts can weigh in on this question.

befoundbyme

Level 2

IT WILL BE APPRECIATED IF SOMEONE FROM TT POSTS HERE THAT THE MD FORM 502LU HAS BEEN ADDED TO TT AND US IN MD CAN PROCEED TO DO OUR MD TAX RETURN. THANKS

Timmy846

Level 2

Does anyone know if turbo tax has updated the software for this yet. I'm waiting to file until it is.

Krisys

Level 2

Is the 502lu form out yet and if so, where do I get it

LenaH

Community Manager

No. Per the State of Maryland, the tax forms related to the RELIEF Act signed into law on February 15, 2021, will not be ready until March. Updates on the availability of forms will be posted here when they become available. Once they become available, TurboTax will update the software accordingly.

It is also important to note that the tax free unemployment waiver only applies to single filers who reported under $75,000 or joint filers who reported under $100,000. For more information, please see RELIEF ACT FAQ's.

Furthermore, the State of Maryland released a Tax Alert on 3/11/21, which states that all individual, corporate, pass-through entity, and fiduciary income tax returns that otherwise would have been due on varying dates between January 1, 2021 and July 15, 2021, inclusive, are now due on or before July 15, 2021.

Maryland Tax Alert 3/11/21

@Krisys

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HockeyCoachBen

Level 2

According to this page on the official Maryland Taxes website, TurboTax is approved 502LU software partner. So...where is the form on the TT website if you were approved to file it?

Amandaanthony2016

Level 2

I filed my taxes before the Relief Act was passed so I set up a payment to pay the state taxes on 04/15/2021 but I want to change the payment to the new deadline

Amandaanthony2016

Level 2

I filed my taxes before the Relief Act was passed so I set up a payment to pay the state taxes on 04/15/2021 but I want to change the payment to the new deadline ..I’m not a resident of Maryland but I won the lottery and I owe taxes. So how can I change my payment to the new deadline.

PattiF

Level 15

Once your return has been accepted, you can't change the payment date with the state of Maryland. You will need to contact the state directly. Here is a link to information on how to contact Maryland.

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Horsky

Level 2

I found the updated FORM 502LU on the Maryland Taxes site today. Time for TurboTax to update their software.

https://www.marylandtaxes.gov/forms/20_forms/502LU.pdf

gezahegn67

Level 2

Please me when the amendment is updated.

Cynthiad66

Level 14

UPDATED: April 21, 2021

Check your state below to see if you need to amend your state return to get the $10,200 of unemployment income benefits according to the American Rescue Plan.

If yours hasn’t been updated yet, check back next week. We’re working hard to incorporate all states’ changes into TurboTax.

Maryland (MD)

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Horsky

Level 2

Form 502LU has disappeared from TurboTax! At the beginning of April, TT added it. I had logged in (desktop version) and saw it and everything was wonderful. Unfortunately, I did not print out my return at that time. Now, when I go in, the form is no longer there and my Maryland State tax owed has increased significantly. When I called TT, they told me the form is not available but will be around mid-May. Not sure I trust what I was told. Does anyone else have any info on this? Thanks

Form 502LU still appears in my desktop version(Deluxe) and my refund amount is still correct. There was a MD state update dated today. Not sure what the update included.

OldRcck19

Level 2

Maryland is going to be using a 502LU it was supposed to be ready 4-15 but I have not seen it. When you log in see if it updates go to your form 502 and see if you have a 502LU it is best to wait for this form so you do not have to do a amendment. But they have already made an adjustment on the 10,200 on the federal side so if you made more than that if at all possible just hold tight

akeemalord

Level 2

Now that the form is updated, when will TurboTax update its software to reflect.

OldRcck19

Level 2

When I last talked to the State of MD comptrollers office that 4-15 date was an estimated time it does not mean they actually did it. I checked today no 502LU in my MD forms so I would say it has not been done as of yet

BeckyPultz

Level 2

Upon speaking with a MD Comptroller Tax expert, I was told that not only would you need to file 502LU, but you must also send in a copy of your 1099G! So electronic filing seems like an impossible task unless TurboTax has a way of scanning in that form.

I inquired as to why the carryover Federal Adjusted Gross Amount from the Federal Filing was insufficient. No answer to that specific question. Just send in the 502LU and the 1099G. PERIOD!

I put in a call to the MD Comptroller's Ombudsman to inquire as to why they must have a paper copy of the 1099G with the filing when surely that gets electronically sent so they can audit everybody and dole out fines.

I have yet to hear back from them.