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Screen NMEst - New Mexico Estimates (1040)

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Overview

Use this screen to complete portions of Forms PIT-1 and PIT-ES, Pages 1 and 2. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-NM displays it on the forms 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 1 of the units provided in the St Pmt screen, make sure to use the same fields for each unit. For example, if you use the
Total
 field in 1 unit, use the
Total
 field for all units that pertain to New Mexico. Similarly, if you use the
1st - 5th
 payment fields, enter amounts in the payment fields for all units used for New Mexico.

Overpayment Application

Use this section to apply any
2025
 overpayments to
2026
's estimated tax payments.
Application of
2025
 overpayment
The code options available in this field are the same as those in UltraTax/1040. They instruct UltraTax CS how to apply any
2025
 overpayment. Your decision affects what's printed on the return and the calculation of
2026
's estimated tax payments.
New clients and converted clients may benefit from global options. Select
Setup
,
1040 Individual
, then the
New Mexico
 tab. Select
New Client Options
 and enter the code or codes with which newly created and converted client returns calculates. 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
2026
, enter
2
 through
8
 in the
Application of
2025
 overpayment
 field or make an entry in the
Estimates - declaration for
2026
 field.
Estimates - declaration for
2026
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
2026
's estimated tax.
If you enter
2
 through
8
 in the
Application of
2025
 overpayment field, UltraTax CS defaults to option
1
 in the
Estimates - declaration for
2026
 field. If both of these fields are blank, UltraTax CS doesn't generate estimate coupons or filing instruction information.
Amounts for code 5 or 9
If you enter code
5
 in the
Estimates - declaration for
2026
 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
2026
 field, enter the desired quarterly payments in these fields. These amounts aren't adjusted by the overpayment applied.
Amounts for
2026
 estimates paid
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 projections options for code 8
If you enter code
8,
 Use tax from Tax Projection Worksheet, in the
Estimates - declaration for
2026
 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 choose. To produce a specific refund amount, enter that amount in the
Amount of refund desired
 field.
Number of
2026
 vouchers desired
The number of estimate coupons defaults to
4
. Enter a code to specify fewer than 4 coupons. The overpayment and amounts paid toward
2026
's estimates are applied to each coupon based on the overpayment code and the quarter in which the amounts were paid.
Treat 4th quarter estimate as due on 12/31/
2026
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 state returns. To select this option, select
Setup
,
1040 Individual
, the
Federal
 tab,
New Client Options
, and enter
X
 in the field.

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