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Lacerte Maryland form 510

Level 3

We are having an inconsistency issue with the MD form 510 when electing to pay the tax for resident members/partners/shareholders at the entity level. On partnerships, any overpayment of the tax is calculating as a refund to the entity. On S-corporations, the overpayment is disregarded at the entity level and the full amount of the taxes paid is shown proportionately on each K-1. Per the form 510 instructions and the MD tax Administrative Release, the overpayment should not be refunded to the entity. Why is the partnership calculating this way? Can I override this?

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5 Replies 5
Level 15

Known bug that has been reported. Haven't heard about a fix.


ex-AllStar
Level 3

Thank you

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Level 1
Has this been addressed by Lacerte?
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Level 3

Yes, the Lacerte update that hit our software yesterday took care of this problem for our clients.  

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Level 1
Thank you!
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