502LU: Legislative Updates Addition/Subtraction Modification (2024)
Maryland · Comptroller of Maryland · Used for tax years 2024
Maryland Form 502LU reports legislative update income additions, subtractions, and credits applicable to tax year 2024 that are enacted after December 31, 2024. It provides totals to include on Form 502 or Form 505, but all individual modification and credit lines are currently m
Who files this form
Taxpayers may use Form 502LU to report income modifications and credits that apply to tax year 2024 and are enacted after December 31, 2024. The form does not state who is required to file it.
Common mistakes
- Using another ink color: the form says to print using blue or black ink only.
Questions people ask
Which lines are reserved for future use?
Lines 1 through 3 for additions, 5 through 7 for subtractions, and 9 through 11 for credits are all marked “Reserved for future use.”
Where does the additions total go?
Line 4 says to add lines 1, 2, and 3. For Form 502, combine that amount with the total from lines 2 through 5, if any, and enter it on line 6. For Form 505, combine it with the total from lines 18 and 19, if any, and enter it on line 20.
Where does the subtractions total go?
Line 8 says to add lines 5, 6, and 7. Follow the instructions for Form 502, line 15, or Form 505, line 24, to include that amount.
Where does the credits total go?
Line 12 says to add lines 9, 10, and 11. Then follow the instructions for Form 502, lines 24 and 43, or Form 505, lines 34 and 46.