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Screen CTEst - Connecticut Estimates (1040)

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Overview

Use this screen to complete Forms CT-1040, CT-1040NR / PY, and CT-1040ES. State payments are entered in the St Pmt federal screen. Enter state payments in the same way you enter federal payments. Note that if you enter payments for this state on more than one screen provided in federal Screen St Pmt, be sure to use the same fields for each screen. For example, if you use the
Total
 field in one screen, use the
Total
 field for all screens that pertain to Connecticut. Similarly, if you use the
1 st-5 th payment
 fields, you also need to enter amounts in the corresponding payment fields for all screens used for Connecticut.

Overpayment Application

Use this section to apply any current year overpayment to next year's estimated tax payment.
Application of overpayment
The code options available in this field are the same as those in UltraTax/1040. They instruct UltraTax CS how to apply any current-year overpayment. Your decision affects what is printed on page 1 of the return and the calculation of next year's estimated tax payments
New clients and converted clients may benefit from global options. See Setup, 1040 Individual,
Connecticut
 tab. Select
New Client Options
 and enter the code or codes with which newly created and converted client returns calculate. These fields transfer the global choice to newly created and converted clients. The transferred codes can be changed in these fields if necessary without being overwritten by the global choice made in the Setup screen. These fields are populated with proforma amounts from year to year. Only newly created and converted clients are affected by global options.

Estimates - Calculated

To calculate the estimated tax liability and required payments for next year, enter
2
 through
8
 in the
Application of overpayment
 field or make an entry in the
Estimates - declaration for
field.
Estimates - declaration for
The codes used in this field are the same as those in UltraTax/1040. They tell UltraTax CS which method to use to determine the amount of the next year's estimated tax.
If you enter
2
 through
8
 in the
Application of overpayment
 field, UltraTax CS defaults to option
1
 in the
Estimates - declaration for
field. If both of these fields are blank, UltraTax CS does
not
 generate estimate coupons or filing instruction information.
Amounts for code 5 or 9: 1st - 4th payment
These fields specify the estimate amounts for each quarter.
If you enter code
5
 in the
Estimates - declaration for
field, enter the desired quarterly payments in these fields. These amounts are adjusted by the overpayment applied, if applicable, and print on the vouchers.
If you enter code
9
 in the
Estimates - declaration for
field, enter the desired quarterly payments in these fields. These amounts are not adjusted by the overpayment applied.
Amounts for estimates paid: 1st - 4th payment
These fields are used to enter any estimate payments already made toward the next year.
If you enter code
1
,
2
,
3
,
6
, or
8
 in the
Estimates - declaration for
field, enter the amount paid with each estimated tax voucher. These amounts and the overpayment applied subtracts from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
Tax projection options for code 8 / Amount of refund desired
If you enter code
8
, Use tax from Tax Projection Worksheet, in the
Estimates - declaration for
field, sel ectan option in this field to customize the tax used to calculate next year's estimates. UltraTax CS automatically adjusts the projected tax liability based on the option you selected. To produce a specific refund amount, enter that amount in the
Amount of refund desired
 field.
Number of vouchers desired
The number of estimate coupons defaults to
4
. Enter a code to specify fewer than four coupons. The overpayment and amounts paid toward next year's estimates are applied to each coupon based on the overpayment code and the quarter in which the amounts were paid.
Amount to round up each estimate
This field allows you to enter rounding specifications for the estimated payments. The estimated payments can be rounded up to the nearest factor indicated. For example, to round up each estimated payment to the next $10, enter
10
. If this field is blank, UltraTax CS automatically rounds each estimated payment up to the next dollar.
Treat 4th quarter estimate as due on 12/31/
Use this field to indicate in the filing instructions that the fourth quarter estimate is due by 12/31. A global default is available for all new clients for all state returns. To select this option, choose Setup, 1040 Individual, then the
Federal
 tab. Select
New Client Options
 and enter
X
 in the
Treat the 4 th quarter state estimate as due on December 31st
 field.

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