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Screen KYWPmt - Kentucky Withholding Tax Return (1065)
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General Information
Amended return
If the Kentucky return is amended and this box is blank, the withholding return is marked as amended. If the state return isn't amended, but you wish to amend the withholding return, enter
1
. If you don't wish to amend the withholding return when amending the state return, enter 2
and the withholding return isn't marked as an amended return.Total tax paid on original return
Enter total tax paid on original return. Amounts entered here transfer to Form 740NP-WH, Page 1, line 12.
Tax overpayment on original return
Enter tax overpayment paid on original return. Amounts entered here transfer to Form 740NP-WH, Page 1, line 14.
Individual/Trust/Estate Payments
Prior year overpayment
Enter any prior year overpayment that was credited forward to the current year. UltraTax CS transfers the amount you enter here to Form 740NP-WH, line 11 as a current year payment.
Treat calculated amounts as amounts paid / Calculated Amounts
If the return was completed using last year’s version of UltraTax CS and estimates were calculated for the current year, UltraTax CS proformas the amounts into the
Calculated Amount
boxes. If there hasn't been data entry for estimate payments, enter X
in Treat calculated amounts as amounts paid
to move the calculated amounts into the Amount Paid
boxes.Amount paid with extension
Each time you print the extension (via File, then Print Extensions), UltraTax CS:
- calculates the extension payment amount and enters it in this box, 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 box. UltraTax CS then displays the new amount in black.
note
- When you overrule the calculated amount, the application no longer issues the FYI diagnostic message indicating that you need to verify the amount paid with the extension before filing the return.
- To delete the overruled amount and restore the original calculated amount, right-click the box and select Delete overrule.
- To confirm the accuracy of the overruled amount, right-click the box and select Acknowledge overruled data. UltraTax CS then turnes off the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to enter it manually.
- If desired, you can set a user preference to mark boxes for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.
Total, or: / 1st - 5th payment
Enter the total of all estimates made for the tax year in
Total, or
. UltraTax CS includes this amount on Form 740NP-WH. To override the way UltraTax CS applies the total to all quarters, enter actual amounts of estimated tax in the 1st payment
through 5th payment
boxes for individual/trust/estate partners, and in the 1st payment
through 5th payment
boxes for corporate partners. If you enter amounts in any of the individual payment boxes, UltraTax CS ignores the value in Total, or
for purposes of calculating Form 740NP-WH.For the individual/trust/estate partners, the first four boxes in the
Date
column default to the respective quarters’ due dates and the fifth payment date defaults to the fourth-quarter date. For the corporate partners, the first four boxes in the Date
column default to the respective installments’ due dates and the fifth payment date defaults to the third installment date. If the payments won't made by the estimate due dates, enter the actual dates of payment in the boxes provided.Extension
Calculate extension
If you leave this blank and run the extension utility, UltraTax CS automatically selects the extension form to be used. If the federal return is extended and there is no balance due on the state return, UltraTax CS doesn't print Form 740NP-WH because KY accepts the federal Form 7004. If the federal return is extended and there is a balance due on the state return, Form 740NP-WH prints. If the federal return isn't extended, Form 740NP-WH prints. Enter
1
to force UltraTax CS to use federal Form 7004. UltraTax CS doesn't print Form 740NP-WH. Enter 2
to force Form 740NP-WH to print. To print the extension, select File, then Print Extensions.note
UltraTax CS also enters the due date in
Extended due date
.Extended due date
If you have printed an extension by selecting File, then Print Extensions, the extended due date automatically appears in this box. When this box is completed and
Date return filed
is blank, UltraTax CS uses the date in this box to calculate penalties and interest. The extended due date is also reflected in the filing instructions.Balance due on extension (Force)
If an amount appears in this box, UltraTax CS displays this amount on the extension, completes
Extended due date
, and displays the amount in Paid with extension
.Penalties and Interest
Date return filed
If the date here is later than the return due date, UltraTax CS automatically calculates the penalties for failure to pay and failure to file and the interest on the underpayment. If this is blank, it defaults to the calculated due date of the return.
Suppress penalty on return: Underpayment of estimated tax
Enter
X
to suppress the calculation of the Form 740NP-WH-P penalty on the return. UltraTax CS includes the underpayment penalty on Form 740NP-WH, Tax Payment Summary if this box is blank and the underpayment penalty is due.note
To suppress the penalty, but print the form, enter
X
in Underpayment of estimated tax
. Next, select Setup, 1065 Partnership, Kentucky tab, and select Tax Return. Highlight Form 740NP-WH-P and selectAlways if data
to force UltraTax CS to always print the form when it contains relevant data.Suppress penalties and interest: Late interest
Enter
X
to suppress the late payment interest on the return. UltraTax CS prints the Kentucky Withholding Late Filing Interest and Penalty Worksheet if this box is blank and the late interest is due. The Kentucky Withholding Late Filing Interest and Penalty Worksheet also prints if the Failure to file
or Failure to pay
boxes are blank and a failure to file or failure to pay penalty exists.Suppress penalties and interest: Failure to file
Enter
X
to suppress the failure to file penalty on the return. UltraTax CS prints the Kentucky Withholding Late Filing Interest and Penalty Worksheet if this box is blank and the failure to file penalty is due. The Kentucky Withholding Late Filing Interest and Penalty Worksheet also prints if the Late interest
or Failure to pay
boxes are blank and the late payment interest or a failure to pay penalty exist.Suppress penalties and interest: Failure to pay
Enter
X
to suppress the failure to pay penalty on the return. UltraTax CS prints the Kentucky Withholding Late Filing Interest and Penalty Worksheet if this box is blank and the failure to pay penalty is due. The Kentucky Withholding Late Filing Interest and Penalty Worksheet also prints if the Late interest
or Failure to file
boxes are blank and late payment interest or a failure to file penalty exists.note
UltraTax CS prints the Kentucky Withholding Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
, Failure to file
, and Failure to pay
boxes are all marked, the Kentucky Withholding Late Filing Interest and Penalty Worksheet doesn't print.