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Screen MDExt - Maryland Payments and Extension (1040)

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Overview

Use this screen to complete Form 502E. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-MD shows it only on the form and not on the input screen.
Calculate extension
Enter
X
 to calculate the extension Form 502E. To print the extension, select File, then Print Extensions. UltraTax CS also enters the applicable due date in the
Extended due date
 field.
Extended due date
If you print an extension by selecting File, then Print Extensions, or you enter data in the
Calculate extension
 field, the extended due date automatically appears in this field. Otherwise, a date that's manually entered in this field is used as the extended due date for filing instructions and when calculating late filing penalties.
Extension payment actually made; reportable on main return
Each time you print the extension by selecting File, then Print Extensions, UltraTax CS does the following:
  • calculates the extension payment amount and enters the amount in this field
  • prints this amount on the main return, not on the extension
Alternatively, you can replace the calculated amount by entering the amount actually paid with the current-year extension. UltraTax CS displays the new amount in black.
note
  • To delete the replacement amount and restore the original calculated amount, right-click the field and select Delete overrule.
  • To confirm the accuracy of the overruled amount, right-click the field and select Acknowledge overruled data. UltraTax CS then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to manually enter the amount.
  • You can set a preference to select fields for which you replaced the calculated amounts and to list  overruled amounts in the Diagnostics window.
Estimate of total tax liability (Force)
If you enter an amount in this field, UltraTax CS enters
X
 in the
Calculate extension
 field, completes the
Extended due date
 field, and uses the amount entered as the tax liability on the extension.
Balance due on extension (Force)
If you enter an amount in this field, UltraTax CS calculates the amount of total tax using the estimated payments and withholding entered, selects the
Calculate extension
 field, completes the
Extended due date
 field, and transfers the amount that you enter in the
Extension payment actually made; reportable on main return
 field.
Additional payment
Enter the payment amount and payment date. This information is used to calculate any late filing payment penalties and interest.

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