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Level 2
posted Jan 14, 2025 9:49:32 AM

turbo tax did not fill in 2023 MD Form 502 line 48

MD tax law requires line 48 on Form 502 be checked when tax due is more than $500.00. This fills in Form 502 UP, ESTIMATED TAX AND ENTERS

 

 

MD tax law requires the box on line 48, Form 502 to be checked when the tax owed is more than $500. I owed more than that in 2023 but TurboTax did not check that box. Doing so brings up Form 502UP, estmated tax and enters a tax back on line 48. As a result of this error, I now owe over $200 for underpayment of estimated tax.

 

 

 

 

 

 

 

 

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3 Replies
Expert Alumni
Jan 15, 2025 8:00:47 AM

You can file a claim on the TurboTax Accuracy Guarantee, who will research the issue and respond to you.

Level 2
Jan 18, 2025 2:16:54 PM

Correction _ should be line 49. I am now working with the Guarantee people and have submitted the requested documents.

Level 15
Jan 19, 2025 8:42:53 AM

The checkbox is only to be marked if you must file Form 502UP.  If you satisfy any of the safe-harbors, Form 502UP is not to be filed.  Tax due of $500 or less is only one of safe harbors.

 

Make sure that you have entered the amount based on your 2023 MD tax liability correctly so that TurboTax can correctly determine if you satisfy the safe harbor for that.