Pacun Posted February 27, 2021 Report Posted February 27, 2021 I see form 502LU correctly filled out but the unemployment compensation is not deducted from 502. Any one having this issue? Tax payer collected from DC and lives in MD, which should not be an issue per instructions: "You received unemployment benefits from the unemployment insurance program of any of the following jurisdictions, with which Maryland has a reciprocal taxation agreement: Pennsylvania, Virginia, West Virginia, and Washington, D.C." 1 Quote
Pacun Posted February 28, 2021 Author Report Posted February 28, 2021 Any MD preparers using another software package? Will unemployment amount from 502LU transfer to line 15 on 502 or any other line? ATX is not doing it now and I don't want to override. Quote
jklcpa Posted February 28, 2021 Report Posted February 28, 2021 51 minutes ago, Pacun said: Any MD preparers using another software package? Will unemployment amount from 502LU transfer to line 15 on 502 or any other line? ATX is not doing it now and I don't want to override. I remember reading that form 502LU wouldn't be ready by MD Comptroller until sometime in March, then each of the software vendors will have to add that to their programming and test it. Does ATX have it? Drake doesn't. 1 Quote
Abby Normal Posted February 28, 2021 Report Posted February 28, 2021 Facebook post by MD yesterday: https://www.facebook.com/ComptrollerofMaryland/posts/5238802726161232 TO THOSE WITH UNEMPLOYMENT FILING THEIR TAXES: There are a few things to know due to the changes resulting from the RELIEF Act: (1) We are urging those taxpayers to PLEASE WAIT to file until we can update our forms and system to match the details of the legislation allowing for unemployment to be nontaxed/subtracted. This is a process that typically takes months given the number of vendors and regulations we must follow, but we are hoping to have them completed within the next few weeks. We appreciate your patience on this. We will alert you when those updated forms are available. (2) It applies only to individuals earning less than $75,000 or couples who file jointly and earn less than a total of $100,000. (3) If you have already filed and are eligible for the unemployment tax subtraction, PLEASE WAIT to amend your taxes until our systems & forms are updated. Quote
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