Form 510 - Schedule K-1 Pass-Through Entity Member'S Information - 2014 Page 3
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32014
PASS-THROUGH ENTITY
MARYLAND
FORM
SCHEDULE K-1 INSTRUCTIONS
510
SCHEDULE K-1
General Instructions
Line 2 - Enter the member’s distributive or pro rata share
of any nonresident tax paid on behalf of this
Use Form 510 Schedule K-1 to report the distributive or pro
entity by other pass-through entities. This line
rata share of the member’s income, additions, subtractions,
is the member’s distributive or pro rata share of
nonresident tax, and credits allocable to Maryland.
Maryland Form 510, line 16c.
Specific Instructions
Line 3 - Add lines 1 and 2 and enter total on line 3.
Enter the fiscal year used by the pass-through entity in the
Members: Include this amount on Form 500, line
header of this form, if the pass-through entity is not using a
15f; Form 502CR, Part I, line 5; Form 504, line
calendar year.
33; Form 505, line 46; Form 510, line 16c.
Information about the Pass-Through Entity
Section E. Credits
Enter the name, address, and Federal Employer Identification
Nonrefundable – The PTE will enter the member’s distributive
Number (FEIN).
or pro rata share of amount of any business tax credits reported
on the Maryland Form 500CR section of its electronic return.
Information about the Member
The PTE member will report the share of credit on Form 500CR
Enter the name, address, Social Security Number/Federal
or Form 504CR (if the PTE member is a fiduciary taxpayer.)
Employer Identification Number (FEIN), residency information,
Refundable – The PTE will enter the member’s distributive
and percentage of distributive or pro rata share.
or pro rata share of amount of any business tax credits from
Section A. Member’s Income
Maryland Form 500CR or Form 502S (See exception for One
Maryland Economic Development Tax Credit below.). The PTE
Line 1 - Enter federal distributive or pro rata share of
member will report the share of credit on Form 500CR or Form
income from federal Schedule K-1.
504CR (if the PTE member is a fiduciary taxpayer).
Line 2 - Enter nonresident member’s distributive or pro
One Maryland Economic Development Tax Credit –
rata share allocable to Maryland, as shown on
See Part P of Maryland Form 500CR Instructions for more
Maryland Form 510, Schedule B.
information. If the PTE is a qualified business eligible to pass
Section B. Additions
on a refundable One Maryland Economic Development Tax
Credit, check the box for Refundable. If the PTE is a qualified
Enter member’s distributive or pro rata share of additions.
business which is eligible to pass on only the nonrefundable
Section C. Subtractions
portion of the One Maryland Economic Development Tax Credit,
check the box for Nonrefundable.
Enter member’s distributive or pro rata share of subtractions.
Section F. Additional Information
Section D. Nonresident Tax
The PTE will enter any other additions or subtractions from
Line 1 - Complete only if member is a nonresident. Enter
section B, line 5 or C, line 5 with amounts, as well as any
the member’s distributive or pro rata share
other information needed to complete the member’s return.
of any nonresident tax paid on behalf of the
For example, additional information may include Oil Depletion
member by this pass-through entity. This line
Allowance or Domestic Production Activities Deduction.
is the member’s distributive or pro rata share
of Maryland Form 510, lines 16a, 16b, and the
additional tax paid with the return.
Note: All taxpayers, other than fiduciaries, must file their return electronically to claim or pass on a business income tax credit from
Form 500CR. In addition, Corporations and Pass-through Entities must file their returns electronically to claim or pass on a Sustainable
Communities Tax Credit from Form 502S.
COM/RAD 045
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