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Screen INEst - Indiana Estimates (1040)

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Overpayment Application

Use this section to apply any overpayment to 's estimated tax payment.
Application of overpayment
These code options are the same as the federal
Est
 screen options. Current-year overpayments are applied based on the code you select.

Estimates - Calculated

To calculate the estimated tax liability and required payments for , enter
2
 through
8
 in
Application of overpayment
 or make an entry in
Estimates - declaration for
.
Estimates - declaration for
If you enter
2
 through
8
 in
Application of overpayment
,
Estimates - declaration for
defaults to option 1. If this field is blank, the estimated tax prepayment(s) for the filing instructions or the voucher information won't generate.
Amounts for code 5 or 9
For code
5
 in
Estimates - declaration for
, enter quarterly payments. These amounts are adjusted by the overpayment applied. For code
9
 in
Estimates - declaration for
, enter quarterly payments. These amounts aren't adjusted by the overpayment applied.
estimates paid
If you enter code
1
,
2
,
3
,
6
, or
8
 in
Estimates - declaration for
, enter any amount that has already been paid with each estimated tax voucher in the corresponding field. These amounts, plus any overpayment applied, are subtracted from the quarterly gross estimated tax liability to determine the net voucher amounts.
Tax projection options for code 8 / Amount of refund desired
For code
8
, select an option in this field to customize the tax used to calculate next year's estimates. The option you select automatically adjusts the projected tax liability. To produce a specific refund amount, enter that amount in
Amount of refund desired
.
Number of vouchers desired
The number of estimate coupons defaults to
4
. Enter a code in this field to specify fewer than four coupons. the overpayment and amounts paid toward '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
The estimated payments can be rounded up to the nearest factor indicated. For example, to round up each estimated payment to the nearest $10, enter
10
 in this field. If you leave this field blank, each estimated payment rounds up to the next dollar.
Treat 4th quarter estimate as due on 12/31/
Enter
X
 to indicate in the filing instructions that the fourth quarter estimate is due by December 31, . To use the global default for all new clients for all state returns, select
Setup
,
1040 Individual
,
Federal
 tab,
New Client Options
, and enter
X
 in
Treat the 4th quarter state estimate as due on December 31st
.

Estimates - County Tax Due

Indiana doesn't separately calculate state (AGI) tax due and county tax due on Form IT-2210. Instead, the Form IT-2210 penalty is based on total amount due per quarter. Thus, the IN Estimated Tax Payments Wrk estimate amounts calculate based on the total projected tax due.
County tax due (Force)
The total estimated payment attributable to taxpayer and spouse county tax due are allocated according to current year tax. Use these fields to enter an amount different than the calculated amount.
note
Amounts you enter in the force fields only affect the distribution of county and state tax on Form IT-40ES. They don't affect the total amount the taxpayer is paying. To change the quarterly amount the taxpayer will pay, use the fields in the
Estimates - Calculated
 section.
County to report on Form IT-40ES (Force)
County(ies) to which estimate amounts are allocated are based on county(ies) reported on the Form CT-40 or Form CT-40PNR. Use these fields to allocate amounts to a different county(ies) for .

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • State: Indiana

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