KupCPA
Level 2

Have any Maryland tax preparers ran into this problem:

If you "elect to remit tax on behalf of resident Maryland members shares of income" for partnership tax returns, the program is refunding the excess above the tax due. However, the program still give credit for the full tax payment on the K-1. For example, $2000 PTE 510D payment made with only $1000 in partnership tax due, the program lists amount to be refunded $1000. The program would also in that case give the members credit for the full $2000 in payments on the K-1's. Essentially giving the members credit for the $1000 they are refunding. 

Shouldn't this be limited to the total resident tax or not refund the excess?

0 Cheers