Screen MDK1-3 - Maryland Schedule K-1 (510/511) Credits (1040)

Overview

Use this screen to create Page 2 of Maryland Form 510 Schedule K-1 records in the electronic file. Amounts entered in this screen are not used to calculate any forms and schedules in the Maryland return. A screen is created for each activity created in the federal Schedule K-1 Partnerships and S Corps folder. Amounts automatically transfer if Form 510 Schedule K-1 is datashared from UltraTax/1065 or UltraTax/1120. Information from Form 510 Schedule K-1 may be entered on this screen when amounts are not datashared. Form 510 Schedule K-1 records are built in the Maryland electronic file if any information is entered in the Nonrefundable Credits, Refundable Credits, and One Maryland Economic Development Credit sections of this screen. A record is also built if any information is entered on the EFK1 screen in the Income, Adjustments, and Nonresident Tax sections. Additional entries are needed on the Maryland Cr, CrB, CrB2 and CrB3 screens.

Nonrefundable Credits

Use this section to enter any nonrefundable credits from Maryland Form 510 Schedule K-1.

Refundable Credits

Use this section to enter any refundable credits from Maryland Form 510 Schedule K-1.

One Maryland Economic Development Credit

Use this section to enter any nonrefundable credits from Maryland Form 510 Schedule K-1. Entries must also be made on Form 500CR, Page 1, and Sections A and C of Part P on Pages 5 and 6, to claim this credit. Form 500CR is located the
500CR
folder.

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