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Screen NYUBTExt - New York City Unincorporated Business Extension and Payments (1040)

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Overview

Use this screen to complete Form NYC-EXT and to complete the payments section of Form NYC-202. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-NY shows it on the form only, not in the screen.

General Information

Use this section to calculate Form NYC-EXT extension and to extend the due date of the return.
T, S
If information in this screen is used to complete the taxpayer's return, this field is blank. If information in this screen is used to complete the spouse's return,
S
 appears in this field.
Calculate extension
Enter
X
 to calculate Form NYC-EXT. If you mark this field, you can print Form NYC-EXT by selecting
File
, then
Print Extensions
.
  • UltraTax CS automatically enters
    X
     if you enter an amount in the
    Balance due on extension (Force)
     field. UltraTax CS also enters the applicable due date in the
    Extended due date
     field.
  • In UltraTax CS, select
    File
    , then
    Print Extensions
     to print the extension.
Extended due date
If you've already prepared an extension for your client or have entered
X
 in the
Calculate extension
 field, an extended due date automatically appears in this field. Otherwise, enter the date that's to be used as the extended due date in the calculation of late-filing penalties and in the filing instructions.
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 due using the estimated payments and withholding you have entered, marks the
Calculate extension
 field, completes the
Extended due date
 field, and transfers the amount to the Payments Made section.
Extension payment actually made; reportable on main return
Each time you print the extension (via the
File
,
Print Extensions
 option), UltraTax CS:
  • Calculates the extension payment amount and enters it in this field, and
  • Prints this amount on the main return, not on the extension.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. UltraTax CS then displays the new amount in black.
note
  • To delete the overruled 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'll need to enter it manually.
  • You can set a user preference to mark fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Payments Made

Use this section to complete payment sections of Forms NYC-221 and NYC-202.
2023
 overpayment applied
Enter any prior-year overpayment applied. UltraTax CS includes the amount entered with the payments of estimated tax on Page 1 of the return and treats it as an addition to the 1st quarter payment for purposes of calculating Form NYC-221.
Don't include this amount when making an entry in the
1st payment
 field.
Total amount of payments, or
Enter the total current-year estimates in the
Total amount of payments, or
 field if the estimates were paid in equal amounts and on time. This amount is applied equally to all estimates tax payments for purposes of calculating any underpayment penalty. If payments weren't equal or were paid on dates other than the due date, enter the dates and amounts in the
1st payment
 through
5th payment
 fields.
Treat calculated amounts as paid
UltraTax CS proformas the estimated payments calculated in the prior application to the
Calculated amount
 fields. Enter
X
 to transfer amounts from the
Calculated amount
 fields to the
Amount paid
 fields.
1st - 5th payment
If the unincorporated business made timely and equal estimated tax payments, enter the total of all estimates made for the tax year in the
Total amount of payments, or
 field. UltraTax CS transfers this amount to Page 1 and applies it equally to all quarters for purposes of calculating Form NYC-221. Form NYC-202 estimate payments aren't entered in or transferred from federal screens; payments should be entered in this field. If the unincorporated business didn't make timely and equal estimated tax payments, enter the actual dates and payments of estimated tax in the
1st payment
 through
5th payment
 fields. If amounts are entered in any of these fields, UltraTax CS ignores the value in the
Total amount of payments, or
 field for purposes of calculating Form NYC-221.

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