Screen MDCr - Maryland Miscellaneous Credits (1040)

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Overview

Use this screen to complete Form 502CR.

Personal Tax Credits

Quality teacher incentive: Maryland public school system
Use these fields to enter the Maryland public school system in which the taxpayer or spouse taught.
Aquaculture oyster floats
Enter the amount paid for the purchase of a new aquaculture oyster float assigned to grow oysters at or under an individual homeowner’s pier. The amount is automatically limited to the maximum credit amount.
Maximum credit allowable (Force)
Use this field to force the amount of maximum credit allowable if it's different from the calculated amount. UltraTax CS automatically calculates this amount to be the lesser of Maryland tax or $5,000 ($10,000 for jointly held property). This amount transfers to Form 502CR, Page 2.
Community Investment contributions made
Enter the amount of approved contributions made by individuals, not as pass-through entity members, who aren't also claiming this credit on Form 500CR. Attach required certification.
Excess CITC Credit Carryover from Form 500CR
Use these fields to enter the amount of Community Investment Tax Credit carryover from the prior year 500CR, part X. If any carryover is attributable to additional credits other than the Community Investment Tax Credit, enter the information under the CrB tab in order to claim the credit on Form 500CR.
Approved donation to qualified permanent endowment fund
Enter the approved donation, made by individuals, not as pass-through entity members, that isn't also being claimed on Form 500CR. Attach required certification.

Refundable Credits

Student loan debt relief
Enter the amount of qualified contributions to neighborhood and community assistance projects. This credit is
not
available to nonresidents.
Section 1341 Repayment
Enter the amount repaid that was reported as income on a prior-year tax return that was greater than $3,000. You might be eligible for an IRC Section 1341 Claim of Right credit.
Flow-through nonresident pass-through entity tax
Use this field only to claim income tax paid on behalf of a beneficiary where the pass-hrough entity has no filing requirement with the IRS and you want to report the tax paid on Form 502CR. Enter all Maryland estimates and withholding on the federal K1T-2 screen. Amounts entered in this field move trust withholding and estimates to Form 502CR, Part H, Trust paid state estimated tax and Credit for state backup withholding fields.

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