Form 500dm - Maryland Decoupling Modification - 2014
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1
22014
DECOUPLING MODIFICATION
MARYLAND
FORM
500DM
OR FISCAL YEAR BEGINNING
2014, ENDING
Name of taxpayer(s)
Taxpayer Identification Number
Use this form only if the Maryland return is affected by the use (for any tax year) of any of the following federal provisions from which
Maryland has decoupled (Decoupled Provisions):
• Special Depreciation Allowance under the federal Job Creation and Worker Assistance Act of 2002 (JCWAA) as increased and
extended under the federal Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA); and subsequent federal legislation,
including the American Recovery and Reinvestment Act of 2009 (ARRA).
• Carryover of a net operating loss (NOL) under IRC Section 172 without regard to an election under IRC Section 172(b)(1)(H) for
a carryback period of up to 5 years.
• Federal Section 179 depreciation deductions taken for a tax year beginning on or after January 1, 2003. For Maryland tax purposes,
a taxpayer only is allowed to expense up to $25,000, reduced dollar-for-dollar by the amount over $200,000, of the cost of Sec-
tion 179 property that is purchased and put in service for a trade or business for the tax year. For vehicles placed in service after
May 31, 2004, Maryland also has decoupled from the higher depreciation deduction for certain heavy duty SUVs allowed under
Internal Revenue Code Section 280F.
• Deferral of recognition of income from discharge of indebtedness under the ARRA.
• Deferral of deduction for original issue discount in debt for debt exchanges under the ARRA.
Read instructions and complete the worksheet below.
Column 1
Column 2
Column 3
Federal Return
Federal Return
Difference
as Filed
Increase/
without Decoupled
1. Depreciation Deductions
Decrease (-)
Provisions
Subtract the amount in Column 2 from the amount in
Column 1 and enter in Column 3. If less than 0, enter
as a negative amount (-).
2. NOL Deductions
Subtract the amount in Column 2 from the amount in
Column 1 and enter in Column 3. If less than 0, enter
as a negative amount (-).
3. Original Issue Discounts
S ubtract the amount in Column 1 from the amount in
Column 2 and enter in Column 3. If less than 0, enter
as a negative amount (-).
4. Discharge of Business Indebtedness
Subtract the amount in Column 1 from the amount in
Column 2 and enter in Column 3. If less than 0, enter as
a negative amount (-).
5. Other Changes (See instructions.) ....................................................................................................
6. Net Decoupling Modification
Net the amounts on lines 1 through 5 of Column 3. This is the Decoupling Modification. Enter here and
include as a positive number on the appropriate line of the Maryland return being filed. Also enter the ap-
plicable letter code(s) in the boxes provided on the return. See table below.
7. Decoupling from PTE. Enter code letter dp. (See instructions.) . ............................................................
Use the following code
Use the following code
If line 6 above is
If line 6 above is
Return
if there is an amount above on:
if there is an amount above on:
negative enter
positive enter
Filed
Line 1
Line 4
Line 4
Line 2
Multiple
Multiple
Line 1
Line 2
on the line for:
on the line for:
only
only
only
only
only
only
Lines
Lines
Addition
Subtraction
500
Adjustments
Adjustments
e
f
cd
dm
j
dm
k
cd
502
Other Subtractions
Other Additions
l
m
cd
dm
dm
bb
cc
cd
Other Additions
No code required
504
Other Subtractions
No code required
dm
505
Other Additions
j
k
cd
dm
cc
cd
Other Subtractions
bb
Total Addition
Total Subtraction
No code required
No code required
500X
Modifications
Modifications
Subtractions
Additions
No code required
No code required
502X
from Income
To Income
Subtractions
Additions
505X
No code required
No code required
from Income
To Income
COM/RAD-24
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