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Screen CAWEst — California Withholding Estimates (1065)

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Withholding payments

Form 592- declaration for next year
Codes
1
,
2
, and
9
 indicate which method you want to use to determine the amount of next-year quarterly withholding tax. If you leave this field blank, UltraTax CS doesn't generate estimate vouchers or quarterly withholding filing instructions.
To enter the Form 592 declaration one time for all new clients, select
Setup
,
1065 Partnership
, the
California
 tab, then
New Client Options
. The options for the
Form 592 - declaration for next year
 are listed in the following table.
Code
Result
1
Use the current-year income subject to tax.
2
Use the current year income plus the adjustment in
Amount for code #2
. If you select this option, also enter an adjustment to the current year income in
Amount for code #2
. If the adjustment represents a decrease, enter a negative amount.
9
Use income amounts entered below in the
Amts for Code 9 (Income)
 boxes.
Amts for Code 9 (Income)
Use these fields to specify the quarterly income amounts for each quarter.
If code
9
is selected in the
Form 592 - declaration for next year
, enter the desired quarterly income in these boxes. UltraTax CS calculates the tax for each partner and prints these income amounts and the calculated tax on the quarterly return.
Withholdings Paid (Tax)
Specify the tax amounts already paid for each quarter. These amounts are subtracted from the calculated gross quarterly withholding tax liability to determine the net tax voucher amounts.
Number of vouchers desired next year
The number of quarterly payments defaults to
4
. Enter a code to specify less than 4 quarterly withholding payments.
The options for the number of estimates are listed in the following table.
Code
Result
4
4 vouchers are generated. This is the default option.
3
3 vouchers are generated. Any unpaid balance from the 1st and 2nd quarter are included in the 3rd voucher.
2
2 vouchers are generated. Any unpaid balance from the 1st, 2nd and 3rd quarter are included in the 4th voucher.
1
The last estimate is generated. 100% of the gross estimated tax liability is allocated to the 4th voucher.
A
First estimate. 100% of the gross estimated tax liability is allocated to the 1st estimate.
B
2nd estimate. 100% of the gross estimated tax liability is allocated to the 2nd estimate.
Amount to round up each quarter
Enter a rounding multiple for the estimate payments. If this field is blank, UltraTax CS rounds each estimate payment up to the next dollar. To enter an amount to round up each estimate one time for all new clients, select
Setup
,
1065 Partnership
, the
California
 tab, then
New Client Options
.

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