1572398
I received a Maryland Schedule K-1 (510) pass-through entity member information with withholding taxes to report. I have searched a long time for how to enter this with no success. I have successfully entered the Federal portion of the K-1 with no problems. I have learned that the K-1 (510) from Maryland is the form they turn over to the IRS. The forms the partners use are form 505 (which has several parts). I can not find in the step by step process how to report the various numbers that need to be ported over to form K-1 (505). Do I simply type in the form by switching over to the FORMS section?
I try to never to 'disturb' the forms, letting Turbotax to do the job of filling out all forms. I really would like an expert employed by Turbotax to answer the question as to how fill in Maryland Schedule K-1 Form 505.
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Did you ever figure this out? Thanks
Can someone please answer this
Please clarify which version of TurboTax you are using. Form 510 is used by TurboTax Business, as this reports activity for Pass-Through entities (Partnerships, LLCs and S-Corps). Form 505 is the Non-Resident Income Tax return.
Were you able to figure out how to enter MD form 505 details in turbo tax?
Some states have a place for k-1 entry but not all. MD does not have a k-1 entry, instead, MD feels your K-1 shows what adjustments you may need to make. As you go through the program, enter any income or subtractions as reflected on your k-1.
@chetanparakh
I have a credit on line 7 of the maryland k-1 (510) for employer provided long term insurance tax credit. I can't figure out where this should be entered. Any ideas?
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