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Screen MOEst - Missouri Estimates (1040)

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Overview

Use this screen to complete the Missouri Estimated Tax Payments Worksheet, Form 1040-ES and portions of Forms MO-1040.
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 federal 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 Missouri. Similarly, if you use the
1st-5th payment
 fields, enter the amounts in the
1st-5th payment
 fields for all units used for Missouri.

Overpayment Application

Use this section to apply any current year overpayment to next year's estimated tax payment.
Application of overpayment
The codes available in this field are the same as those in UltraTax/1040. They instruct UltraTax CS how to apply a current-year overpayment. Your input affects what prints on Page 2 of the return as well as the calculation of next year's estimated tax payments.
New and converted clients may benefit from global options. Select Setup, then 1040 Individual, then the Missouri tab. Select the New Client Options button and enter the code or codes with which newly created and converted client returns calculate. These input screen fields transfer the global choice to newly created and converted clients. You can change the transferred codes in these fields without their being replaced by the global choice made in the New Client Options window. These fields proforma from year to year; therefore, only newly created and converted clients are affected by global options.

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 enter information in the
Estimates - declaration for
field.
Estimates - declaration for
The codes used in this field are the same as those in UltraTax/1040. They tell UltraTax CS which methods to use to determine the amount of the next year's estimated tax. If you enter
2
 through
8
 in the
Application of overpayment
 field, UltraTax CS defaults to code
1
 in the
Estimates - declaration for
field. If you leave both of these fields blank, UltraTax CS doesn't generate estimate vouchers 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 quarterly payments in these fields. These amounts are adjusted by the overpayment applied, and they print on the vouchers.
If you enter code
9
 in the
Estimates - declaration for
field, enter the quarterly payments in these fields. These amounts aren't adjusted by the overpayment applied.
Amounts for estimates paid: 1st - 4th payment
Enter any estimated payments already made toward the next year. These amounts and the applied overpayment are subtracted from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
Tax projection options for code 8
If you enter code
8
 in the
Estimates - declaration for
field, select 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 you select. To produce a specific refund amount, enter that amount in the
Amount of refund desired
 field.
Number of vouchers desired
The number of estimate vouchers defaults to 4. Enter a code in this field to specify fewer than four vouchers. UltraTax CS applies the overpayment and amounts already paid toward next year's estimates to each voucher based on the overpayment code and the quarter in which the amounts were paid.
Amount to round up each estimate
Use this field to enter rounding specifications for estimated payments. Estimated payments round up to the nearest factor you specify. For example, to round up each estimated payment to the nearest $10, enter
10
. If this field is blank, UltraTax CS automatically rounds up each estimated payment to the next whole dollar.
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, select Setup, then 1040 Individual, then the Federal tab, then the New Client Options button, then enter
X
 in the
Treat the 4th quarter state estimate as due on December 31st
 field.

This article applies to:

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

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