Supported Forms

The following Maryland forms are supported in Drake Tax 2023. Forms denoted with can be e-signed.

Form	Description	IND	CRP	SCRP	PTR	FID
1	Business Personal Property Tax Return	P	P	P	P
1	Annual Report	P	P	P	P
2	Business Personal Property Return	P			P
500	Corporation Income Tax Return		P
500CR	Business Income Tax Credits	P	P	P	P
500D	Corporation Declaration of Estimated Income Tax		P
500DM	Decoupling Modification	P	P	P	P	P
500E	Application for Extension of Time to File Corporation Income Tax Return		P
500UP	Underpayment of Estimated Income Tax by Corporations and Pass-Through Entities		P	P	P
502	Resident Income Tax Return	P
502AC	Subtraction for Contribution of Artwork	P
502B	Dependents’ Information	P
502CR	Income Tax Credits for Individuals	P				P
502INJ	Injured Spouse Claim Form	P
502R	Retirement Income	P
502S	Heritage Structure Rehabilitation Tax Credit	P	P	P	P	P
502SU	Subtractions from Income	P
502TP	Computation of Tax Preference Income	P				P
502UP	Underpayment of Estimated Income Tax by Individuals	P
502V	Use of Vehicle for Charitable Purposes	P
502X	Amended Tax Return	P
504	Fiduciary Income Tax Return					P
504CR	Business Income Tax Credits for Fiduciaries					P
504D	Fiduciary Declaration of Estimated Income Tax					P
504E	Application for Extension to File Fiduciary Income Tax Return					P
504NR	Fiduciary Nonresident Income Tax Calculation					P
504UP	Underpayment of Estimated Income Tax by Fiduciaries					P
505	Nonresident Income Tax Return	P
505NR	Nonresident Income Tax Calculation	P
505SU	Nonresident Subtractions from Income	P
505X	Nonresident Amended Tax Return	P
510	Pass-Through Entity Income Tax Return			P	P
510/511D	Pass-Through Entity Declaration of Estimated Income Tax			P	P
510/511E	Application for Extension to File Pass-Through Entity Income Tax Return			P	P
510C	Composite Pass-Through Entity Income Tax Return			P	P
511	Maryland Pass-Through Entity Election Income Tax Return			P	P
548	Power of Attorney	P	P	P	P	P
588	Direct Deposit of Maryland Income Tax Refund to More Than One Account	P
EL101	e-File Declaration for Electronic Filing	P
EL101B	e-File Declaration for Businesses Electronic Filing		P	P	P	P
EL102B	Income Tax Payment Voucher for Business Electronic Filers		P	P	P
HTC60	Homeowner’s Property Tax Credit Application	P
MD4562	Depreciation and Amortization	P	P	P	P	P
PV	Personal Tax Payment Voucher for Form 502/505, Estimated Tax and Extensions	P
RTC60	Renter’s Property Tax Credit Application	P
Schedule A (504)	Fiduciary Income Tax Return Schedule A					P
Schedule A (510)	Computation of Apportionment Factor			P	P
Schedule A (511)	Computation of Apportionment Factor			P	P
Schedule B (510)	Pass-Through Entity Income Tax Return Members’ Information			P	P
Schedule B (511)	Pass-Through Entity Election Income Tax Return Members’ Information			P	P
Schedule K-1 (504)	Fiduciary Beneficiary's Information					P
Schedule K-1 (510/511)	Pass-Through Entity Member’s Information	P	P	P	P	P
ST-118A	Consumer Use Tax for Purchases	P

Tax Law Changes  

• Form 500CR, Business Income Tax Credits

  • Part J, Federal Security Clearance Costs Tax Credit – Added back for 2023

  • Part M, Commuter Tax Credit – Removed lines 2 – 5

  • Part Q, Oyster Shell Recycling Tax Credit – Expired and removed

  • Part T, Automated External Defibrillator Tax Credit – Added for 2023

  • Part Y, Apprentice Employee Tax Credit – Reworked

  • Part AAA, Business Tax Credit Summary – Reworked

  • Part CCC, Refundable Business Income Tax Credits – Removed line 3, “Total Clean Energy Incentive Tax Credit from PART N, line 3” (expired)

• Form 502, Resident Income Tax Return

  • Line 1e – Increased investment income limit to $11,000

  • Line 5 – Added modification code “t” for PTE members whose entity paid tax to another state on their behalf and who claimed said tax on Part A of Form 502CR, Income Tax Credits for Individuals

  • Line 10a – Increased maximum pension exclusion amount (per taxpayer) to $36,200

  • Line 21a – Added for “Recaptured credit from Form 502CR, Part DD, line 1”

  • Maximum amounts and income limits for the (Refundable) Earned Income Credit ((R)EIC) have been increased.

  • Individuals without qualifying children can now claim 100% of federal EITC as a Maryland refundable state income tax credit.

  • The following local county rates have changed for tax year 2023:

    • Alleghany

    • Cecil

    • St. Mary’s

    • Washington

  • 2023 progressive local rates have been added for Anne Arundel and Frederick counties.

  • The 2024 local county rate for Cecil county has been decreased to .0275

• Forms 502, Resident Income Tax Return, and 505, Nonresident Income Tax Return

  • Standard deduction changes:

    • Single and Married Filing Separately with Dependents statuses – Minimum deduction has been increased to $1,700; maximum deduction has been increased to $2,550; income range has been adjusted to $11,333 – $17,000.

    • Married Filing Jointly, Head of Household, and Qualifying Surviving Spouse statuses – Minimum deduction has been increased to $3,450; maximum deduction has been increased to $5,150; income range has been adjusted to $23,000 – $34,333.

  • Poverty income levels have been increased as follows:

    • One-person household – $14,850

    • Each additional personal – An additional $5,140

  • Filing thresholds have been adjusted as follows for tax year 2023:

Filing Status	Age Restriction	Income Equals or Exceeds
Single	Under 65	$13,850
	65 or older	$15,700
Married Filing Separately	N/A	$13,850
Married Filing Jointly	Both spouses under 65	$27,700
	One spouse 65 or older	$29,200
	Both spouses 65 or older	$30,700
Qualifying Surviving Spouse	Under 65	$27,700
	65 or older	$29,200
Head of Household	Under 65	$20,800
	65 or older	$22,650

• Form 502CR, Income Tax Credits for Individuals

  • Increased FAGI limits for Part B, Credit for Child and Dependent Care Expenses, and Part CC, line 7, “Refundable credit for Child and Dependent Care Expenses” (MD residents only)

  • Updated qualifications for Part CC, line 8, “Refundable Maryland Child Tax Credit” (MD residents only)

  • Added Part DD, Recapture of Previously Claimed Credit

  • Removed Part G, Venison Donation – Feed the Hungry Organizations Tax Credit

• Forms 502SU, Subtractions from Income, and 505SU, Nonresident Subtractions from Income

  • Added new subtraction code “yc” for union dues paid during the taxable year

  • Increased the maximum subtraction for code “k” to $10,000 (adopting a child without special needs) and $12,000 (adoption a child with special needs) per taxpayer

  • Increased the maximum military retirement subtraction (code “u”) to $12,500 (individuals under 55) and $20,000 (individuals 55 and older) per taxpayer

  • Added new line for state cannabis license information (code “yb”)

• Form 502UP, Underpayment of Estimated Income Tax by Individuals – Updated interest rates (visit MarylandTaxes.gov)

• Form 502V, Use of Vehicle for Charitable Purposes – Increased mileage rate reimbursement to 65.5 cents per mile (01/01/2023 – 12/31/2023)

• Forms 502X, Amended Tax Return, and 505X, Nonresident Amended Tax Return – Added line 10a, “Recaptured credits from Part DD, line 1 of Form 502CR”

• Form 505, Nonresident Income Tax Return – Added line 32c, “Recaptured credit from Form 502CR, Part DD, line 1”

• Schedule K-1 (510/511), Pass-Through Entity Member’s Information

  • Automated External Defibrillator Credit for Restaurants – Added

  • Employer Security Clearance Costs (ESCC) Tax Credit – Added back for 2023

  • Oyster Shell Recycling Tax Credit – Expired and removed

  • Part D, line 3 – Reserved

  • Refundable Clean Energy Credit – Expired and removed

e-File Reminder

The MD Department of Revenue requests that taxpayers include a driver’s license or state-issued identification number on their tax return. Doing so may expedite the return processing but is not required.