Screen DCUBTEst - District of Columbia Franchise Estimates (1040)

Overview

Use this screen to complete portions of Form D-30ES, the District of Columbia Unincorporated Business Estimated Franchise Tax Worksheet. If the information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-DC only shows it on the form and not on the input screen.

Overpayment Application

Use this section to apply any overpayment to 's estimated tax payment.
These code options are the same as those in UltraTax/1040 and in the individual District of Columbia tax return. UltraTax CS uses the codes to apply any current-year overpayment. The code affects what's printed on Form D-30, Page 2, as well as the calculation of next year's estimated tax payments.

Estimates - Calculated

To have UltraTax CS calculate next year's estimated tax liability and required payments, enter
2
through
8
in the
Application of overpayment
field, or make an entry in the
Estimates - declaration for
field.
These codes are the same as those used in UltraTax/1040 and those available for the individual District of Columbia tax return. The codes tell UltraTax CS which method to use to determine the amount of next year's estimated franchise (UBT) tax. If you enter code
2
through
7
in the
Application of overpayment
field and leave this field blank, UltraTax CS defaults to option
1
in the
Estimates - declaration for
field. If you leave both of these fields blank, UltraTax CS
doesn't
generate estimates or filing instruction information.
These fields serve two purposes: specifying the estimate amounts for each quarter, or entering any estimated payments already made toward next year's tax.
  • If you enter code
    5
    in the
    Estimates - declaration for
    field, enter the 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.
  • 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. The total of these payments appears on Form 40-ES, as a total paid on the original declaration.
The number of estimate vouchers defaults to
4
. Enter a code to specify fewer than four vouchers. The overpayment and amounts already paid toward next year's estimate are applied to each voucher based on the overpayment code and the quarter in which the amounts were paid.
Use this field to enter rounding specifications for the estimated payments. The estimated payments are rounded up to the nearest factor specified. For example, if you want to round up each estimated payment to the nearest $10, enter
10
. If you leave this field blank, UltraTax CS automatically rounds up each estimated payment to the nearest dollar.
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