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Screen MEEst - Maine Estimates (1040)

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Overview

Use this screen to complete portions of Form 1040ES-ME Voucher, Form 1040ME and the Maine Estimated Tax Payments Worksheet. If the information transferred from UltraTax/1040 does not require additional data or coding, UltraTax/1040-ME shows it on the form only, not in the input screen.
Enter state payments in the federal St Pmt Screen so the amounts transfer to federal Schedule A. If you enter payments for this state in more than one of the units provided in the St Pmt Screen, be sure to use the same fields for each unit. For example, if you use the
Total
 field in one unit, use the
Total
 field for all units that pertain to Maine. Similarly, if you use the
1st-5th payment
 fields, enter amounts in the payment fields for all units used for Maine.

Overpayment Application

Use this section to apply any overpayment to 's estimated tax payment.
Application of overpayment
These code options are the same as those in UltraTax/1040. They instruct UltraTax CS how to apply any overpayment. Your decision affects what is printed on the return and the calculation of 's estimated tax payments.
New clients and converted clients may benefit from global options. See Setup, 1040 Individual, and then Maine tab. Select the New Client Options button 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 may be changed in these fields if necessary, without being overwritten by the global choice made in the Setup screen. These fields are proforma'd from year to year; therefore, only newly created and converted clients are affected by global options.

Estimates - Calculated

To calculate the estimated tax liability and required payments for , enter
2
 through
8
 in the
Application of
overpayment field or make an entry in the
Estimates - declaration for
field.
Estimates - declaration for
These codes are the same as those in UltraTax/1040. They tell UltraTax CS which method to use to determine the amount of '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
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
Enter any estimate payments already made toward the next year. These amounts and the applied overpayment subtract from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
Tax projected 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, choose an 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 choose. 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 '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, 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 each estimated payment up to the next dollar.
New clients and converted clients may benefit from global options. Choose Setup, 1040 Individual, and then Maine tab, select the New Client Options button, and enter the rounding amount with which newly created and converted client returns calculate. The input screen field transfers the global amount to newly created and converted clients. The transferred amount may be changed in this field if necessary without being overwritten by the global choice made in the New Client Options dialog. This field is proforma'd from year to year; therefore, only newly created and converted clients are affected by global options.
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, Federal tab, and then New Client Options button and mark the
Treat the 4th quarter state estimate as due on December 31 st
 checkbox.

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