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Level 1
November 20, 2020
New

Please add Maryland Form 500CR to ProSeries

Related products:ProSeries
  • November 20, 2020
  • 2 replies
  • 3 views

Maryland has a biotech credit that is a refundable credit for 50% of an investment in a Maryland Biotech firm. If requires the use of Maryland Form 500CR.  You need to support it as it has to be e-filed and currently ProSeries does not support the form.  I currently have to use Ultra Tax which is a very expensive piece of poorly designed software.

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2 replies

sjrcpa
Level 15
November 20, 2020

MD requires all business credits, which are claimed on Form 500CR, to be claimed on an efiled return. Been this way for years.

The more I know the more I don’t know.
Level 3
February 9, 2023

Agreed. As an approved MD efiling software, it's unacceptable that Proseries doesn't have a required form. Form 500CR a business form that is required for certain individuals and it's only included in business returns in Proseries. I don't think the other commenter understands the issue (but the statement is correct).