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Screen NEEst - Nebraska Estimates (1040)
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Overview
Use this screen to complete portions of Forms 1040N, 1040N-ES, and the Nebraska Estimated Tax Payments Worksheet. If the information transferred from UltraTax/1040 does not require additional data or coding, UltraTax/1040-NE shows it on the form only, not in the input screen.
State payments are entered in federal St Pmt Screen so the amounts transfer to federal Schedule A. If you enter payments for Nebraska in more than one of the four sections provided in federal St Pmt Screen, be sure to use the same fields for each section. For example, if you use the
Enter total, or
field in one section, use the Enter total, or
field for all sections that pertain to Nebraska. Similarly, if you use the 1st
through 5th
fields, enter amounts in the payment fields for all sections used for Nebraska.Overpayment Application
Use this section to enter overpayment application information.
Application of overpayment
These codes are the same as those in UltraTax/1040. They instruct UltraTax CS how to apply any current-year overpayment. This entry affects what is printed on the return and the calculation of next year's estimated tax payments.
New clients and converted clients may benefit from global options. Select
Setup
, 1040 Individual
, Nebraska
, select New Client Options
, 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. The transferred codes may be changed in these fields if necessary without being overwritten by the global choice made in the New Client Options dialog. These fields are proforma'd 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 make an entry in the Estimates - declaration for
field.Estimates - declaration for
These codes are the same as those in UltraTax/1040. The codes indicate which method to use to determine the amount of the next year's estimated tax.
If you enter codes
2
through 8
in the Application of overpayment
field, UltraTax CS defaults to option 1 in the Estimates - declaration for
field.If you leave both of these fields blank, UltraTax CS
does not
generate estimate vouchers or filing instruction information.New clients and converted clients may benefit from global options. Choose Setup, 1040 Individual, and then Nebraska 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. The transferred codes may be changed in these fields if necessary without being overwritten by the global choice made in the New Client Options dialog. These fields are proforma'd from year to year; therefore, only newly created and converted clients are affected by global options.
Amounts for code 5 or 9
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
If you enter code
1
, 2
, 3
, 6
, or 8
in the Estimates - declaration for
field, enter the amount paid with each estimated tax voucher. These amounts, and the overpayment applied, 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
, 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 you 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 vouchers defaults to
4
. Enter a code to specify fewer than four 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 allows 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 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 Nebraska 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, select
Setup
,1040 Individual
then Federal
, select New Client Options
, and mark the Treat 4 th quarter estimate as due on December 31
field.