Skip to main content

Legal

Featured

Questions? We are here to help
Contact us

Tax & Accounting

Featured

Questions? We are here to help
Contact us

Trade & Supply

Featured

Questions? We are here to help
Contact us

Risk & Fraud

News & Media

Books

Developers

Screens

Screen DCEst - District of Columbia Estimates (1065)

Show all hidden content

Overpayment Application

These code options instruct UltraTax CS on how to apply any current-year overpayment for Form D-30 and the calculation of next year’s estimated tax payments. To enter the application of current-year overpayment one time for all new clients, go to
Setup
 and select
1065 Partnership
. On the District of Columbia tab, select
New Client Options
.
The overpayment options are listed in the following table.
Code
Result
1
Refund 100 percent of overpayment. This is the default option.
2
Apply 100 percent of the overpayment to next-year’s estimate; refund excess. This option applies the overpayment to each estimate in full until the overpayment is exhausted or all estimated payments are made, in which case the excess is refunded.
3
Apply to first estimate; refund excess.
4
Apply equally to each estimate; refund excess. This option divides the total overpayment by the number of next year payments desired.
5
Apply the portion of the overpayment shown in the
Amount for code #5 or #8
 field to the estimates until the amount is exhausted or all payments are made in which case the excess is refunded.
6
Apply to first and second quarters of next year estimates; refund excess.
7
Apply 100 percent of overpayment to next year’s estimates; no refund.
8
Apply amount specified below.

Estimates

Use this section to calculate the next year estimated tax payments. UltraTax CS uses this information to complete Form D-30ES. If a blank estimate voucher is desired, use Tax Subject Index in the Help menu to go to Web Form Instructions and link to Form D-30ES from the District of Columbia website. The estimate vouchers produced by the application are not approved for handwritten use.
Codes
1
,
2
,
3
,
5
, and
9
 indicate which method you want to use to determine the amount of the next year’s estimated tax. If you enter option
2
 through
8
in the
Application of current year overpayment
 field, UltraTax CS defaults to option
1
 in the
Form D-30ES - declaration for next year
 field. If you leave both of these fields blank, the application
does not
 generate estimate vouchers or estimate filing instructions. To enter the
Form D-30ES
-
declaration for next year
 one time for all new clients, go to
Setup
 and select
1065 Partnership
. On the District of Columbia tab, select
New Client Options
. The options for the
Form D-30ES - declaration for next year
 field are listed in the table that follows.
Code
Result
1
Use current-year liability; if less than $1000, use zero. This is the default if you entered code
2
through
8
 in the
Application of current year overpayment
 field.
2
Use the current year liability plus the adjustment in the
Amount for code #2
 field. If you select this option, also enter an adjustment to the current year liability in the
Amount for code #2
 field. If the adjustment represents a decrease, enter a negative amount.
3
Use current-year liability even if less than $1,000. This option allows estimates to be calculated even when the tax liability is less than the minimum amount required for estimate payments.
5
Use amounts entered below, before overpayment. Enter amounts in the
Amts for Codes 5 or 9
 or
Estimates Paid
 fields to enter estimated payments for each quarter.
9
Use amounts entered below.
Use these fields to specify the estimate amounts for each quarter.
If code
5
is selected in the
Form D-30ES - declaration for next year
 field, enter the desired quarterly payments in these fields. UltraTax CS adjusts these amounts by any overpayment applied, if applicable, and prints the calculated amounts on the vouchers.
If code
9
is selected in the
Form D-30ES - declaration for next year
 field, enter the desired quarterly payments in these fields. UltraTax CS does not adjust these amounts by any overpayment applied, if applicable, and prints these amounts on the vouchers.
If code
1
,
2
, or
3
is selected in the
Form D-30ES - declaration for next year
field, use these fields to specify the amounts already paid for each estimate. These amounts are subtracted from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
The number of estimate vouchers defaults to
4
. Enter a code to specify fewer than four vouchers. The options for the number of vouchers are listed in the following table.
Code
Result
4
Four vouchers are generated. This option is the default.
3
The last three vouchers are generated. Any unpaid balance from the first estimate is included in the second estimate voucher.
2
The last two vouchers are generated. Any unpaid balance from the first or second estimate is included in the third estimate voucher.
1
The last voucher is generated. 100 percent of the gross estimated tax liability is allocated to the fourth voucher.
A
First voucher. 100 percent of the gross estimated tax liability is allocated to the first voucher.
B
Second voucher. 100 percent of the gross estimated tax liability is allocated to the second voucher.
C
Third voucher. 100 percent of the gross estimated tax liability is allocated to the third voucher.
This field allows you to enter a rounding multiple for the estimate payments. If this field is blank, UltraTax CS automatically rounds each estimated payment up to the nearest dollar. To enter the amount to round each estimate once for all new clients, go to
Setup
 and select
1065 Partnership
. On the District of Columbia tab, select
New Client Options
.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close