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Screen MJCEst - Michigan Cities Estimates (1040)

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Overview

Use this screen to calculate estimates for each city.

Estimates - calculated

Estimates - declaration for next year
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 current year overpayment
 field, UltraTax CS defaults to option
1
 in the
Estimates - declaration for next year
 field. If both of these fields are blank, UltraTax CS
does not
 generate estimate vouchers or filing instruction information.
Amounts for code 5, 9 or next year estimates paid
These fields serve 2 purposes: specifying the estimate amounts for each quarter, or entering any estimate payments already made toward . If you enter the code
5
 in the
Estimates - declaration for next year
 field, enter the quarterly payments in these fields. These amounts are adjusted by the overpayment applied, if relevant, and print on the vouchers. If you enter the code
9
 in the
Estimates - declaration for next year
 field, enter the quarterly payments in these fields. These amounts are not adjusted by the overpayment applied. If you enter the code
1
,
2
,
3
,
6
, or
8
 in the
Estimates - declaration for next year
 field, enter the amount paid with each estimated tax voucher. These amounts and the overpayment applied subtract from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
Number of next year vouchers
The number of estimate vouchers defaults to
4
. Enter a code in this field to specify fewer than 4 vouchers. The overpayment and amounts already paid toward next year's estimates are applied to each voucher based on the overpayment code and the quarter in which the amounts were paid.
Amount to round up each estimate
This field lets 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 nearest $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 4th quarter estimate is due by 12/31. A global default is available for all new clients for all city returns. To select this option, select
Setup
,
1040 Individual
,
Federal
 tab, then
New Client Options
 button and enter
X
 in the
Treat the 4th quarter city estimate as due on December 31st
 field.

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