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Screen RIEst - Rhode Island Estimates (1040)

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Overview

Use this screen to complete Forms RI-1040 and RI-1040NR, Page 1. If information transferred from UltraTax/1040 does not require additional data or coding, UltraTax/1040-RI shows it on the form only, not in this screen.
note
State payments are entered in 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 federal St Pmt Screen, be sure to use the same fields for each unit. For example, if you use the
Enter total
 field in one unit, you need to use the
Enter total
 field for all units that pertain to Rhode Island. Similarly, if you use the
1st-5th payment fields
, enter the amounts in the payment fields for all units used for Rhode Island.

Overpayment Application

Use this section to apply any current-year overpayment to next year's estimated tax payment.
Application of overpayment
The code options available in this field are the same as those in UltraTax/1040. They instruct UltraTax CS how to apply any current year overpayment.
New clients and converted clients may benefit from global options. Choose Setup, 1040 Individual, and then Rhode Island tab.
Amount for code 5 or 8
Enter the amount of the current year overpayment to be applied to next year's estimates. This amount is applied until exhausted and any excess is then refunded.

Estimates - Calculated

Estimates - declaration for
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 next year's estimated tax. If you enter
2
 through
8
 in the
Application of overpayment
 field, UltraTax CS defaults to option
1
 in the
Estimates - declaration for
field. If both of these fields are blank, UltraTax CS
does not
 generate estimate vouchers or estimate filing instructions information.
Amount for code 2
Enter the amount by which the current year tax liability is to be adjusted before calculating next year's estimates. This amount can be positive or negative and is displayed on line 3 of the Rhode Island Estimated Tax Payments Worksheet.
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
These fields are for entering any estimate payments already made toward the next year.
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 subtracts from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
Amounts for code 6
Enter the amounts in this field by which the current year amounts are to be adjusted before calculating next year's estimates. These amounts can be negative or positive and display on the corresponding lines of the Rhode Island Estimated Tax Payments Worksheet.
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 in this field to specify fewer than four vouchers. The overpayment and amounts already paid toward next year's estimates apply 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 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 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, choose Setup, 1040 Individual, and then Federal tab, select the New Client Options button, and enter
X
 in the
Treat the 4th quarter state estimate as due on December 31 st
 field.

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