Maryland State Tax

Forum|Forum|5 years ago
March 16, 2021
2 replies
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Form 502UP completion appears to be incorrectly calculated by Turbo Tax.

Technical Help

BillM223

Level 15

Unfortunately, we in the Community cannot see your private tax data.

Can you give us a general idea of what you think is being calculated incorrectly, and then actual lines and columns and dollar amounts so that we can see if we can identify the issue?

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momekaneAuthor

Level 2

I paid estimated quarterly taxes that totaled more then actual tax due, giving me a refund. Form 502UP should only be completed if taxes due are more then $500 after taxes withheld or paid through quarterly tax estimates are applied.

1. I had no taxes due but the form was completed.

2. In addition to 1 above, your calculations are being done incorrectly, causing money to be substracted from my refund.

Instruction 11 says to divide total income by 4 quarters which should give the same 25% amount to each quarter. Your calculation shows 25% total, 50% total,75% total, then 100% then based the amount of estimated taxes that should have been paid each quarter on those percentages. I paid the same amount each quarter, so 25% of taxes paid to 25% of income should have generated 0 on line 17 of form 502UP.

AmyC

Level 15

1. Please take a look at your form and let's talk through it.

At the top of the page, below your name is a section for No interest due and form should not be filed

Maybe one of those boxes is checked?

2. If not, let's keep going.

Line 11 says to divide income by period. The time periods are Jan- Mar, Jan-May, Jan - Aug, Jan - Dec.
Line 12 has the amount of tax due based on the line 11 period.
Line 14 has the payments made, those should be also adding up, like line 11 income and line 12 percentages.

You state that yours is not adding up. For example: $300 paid each quarter on line 14 would look like:

$300 $600 $900 $1200

multiplied by the percentages

25% 50% 75% 100%

The question is why does yours not become cumulative? Please review your entries.

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momekaneAuthor

Level 2

1- There is no way that my return should have gone to form 502UP. Neither A or B apply to my return. This form is for underpayment of withholding and/or estimated taxes collected. I didn't have an underpayment, I have a refund due. Option A says taxpayer needs to pay more then $500 tax due. Option B questions if quarterly payments were equal or more than 110% of last years taxes. Line 10 is the result of determining if Option B is true. My line 10 is the result of the required minimum calculated that should of been collected during the year. I paid over $900 more then the calculated minimum.

2- It appears that the amounts on line14 are not being calculated correctly. The first quarter payment is not being added into the second and third quarter amounts, it is included in the fourth quarter total.