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Screen NHEst - New Hampshire Estimates (1065)

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Overpayment Application

Application of current year overpayment
These code options instruct UltraTax CS how to apply any current-year overpayment for Form BT-Summary and the calculation of next year’s estimated tax payments.
To enter UltraTax CS of current year overpayment one time for all new clients, select Setup, 1065 Partnership, New Hampshire tab, and select New Client Options. The overpayment options are listed in the fieldview and in the table that follows:
Code
Result
1
Refund 100 percent of the overpayment. This is the default option.
2
Apply 100 percent of the overpayment to next year’s estimate; refund excess. This 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 divides the overpayment by the number of current year payments desired.
5
Apply the portion of the overpayment shown in
Amount for code #5 or #8
 to estimates until exhausted; refund excess.
6
Apply to first and second quarters of next year’s estimates; refund excess.
7
Apply 100 percent of this year’s overpayment to next year’s estimates; provide no refund.
8
Apply amount specified.

Estimates

If a blank estimate voucher is desired, use Help, Tax Subject Index, then Web Form Instructions to link to Form DP-10-ES from the New Hampshire website. The estimate vouchers produced by UltraTax CS are not approved for handwritten use.
Form NH-1065-ES - declaration for next year
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
2
 through
8
 in
Application of current year overpayment
, UltraTax CS defaults to
1
 in
Form NH-1065-ES- declaration for next year
. If you leave both of these boxes blank, UltraTax CS
does not
 generate estimate vouchers or estimate filing instructions. To enter the Form NH-1065-ES declaration one time for all new clients, select Setup, 1065 Partnership, then New Hampshire tab and select New Client Options. The options for Forms NH-1065-ES declaration are listed in the fieldview and in the table that follows:
Code
Result
1
Use current year liability; if less than $200 ($260 BET return), use zero. This is the default if you entered
2
 through
8
 in
Application of current year overpayment
.
note
If the current year’s tax is less than the minimum filing requirements, the vouchers won't print.
2
Use current year liability adjusted by amounts specified. If you select this option, also enter an adjustment to the current year liability in the
Amounts for code #2
 boxes. If the adjustment represents a decrease, enter a negative amount.
3
Use current year liability even if less than $200 ($260 BET return). This lets estimates to calculate even when the tax liability is less than the minimum amount required for estimate payments.
5
Use amounts entered, before overpayment. Enter amounts in the
Amts for Code 5 or 9
 or
Estimates Paid
 boxes to enter estimated payments for each quarter.
9
Use amounts entered.
Amts for Code 5 or 9
Use these boxes to specify the estimate amounts for each quarter.
If code
5
 is entered in
Form NH-1065-ES - declaration for next year
, enter the desired quarterly payments. UltraTax CS adjusts these amounts by any overpayment applied and prints the calculated amounts on the vouchers.
If code
9
 is entered in
Form NH-1065-ES - declaration for next year
, enter the desired quarterly payments. UltraTax CS doesn't adjust these amounts by any overpayment applied and prints these amounts on the vouchers.
Estimates Paid
Use these boxes 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.
Number of estimates desired
The number of estimate payment vouchers defaults to
4
. Enter a code to specify fewer than four vouchers. The options for the number of vouchers are listed in the fieldview and 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 estimates 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.
Amount to round up each estimate
This box lets you enter a rounding multiple for the estimate payments. If this box is blank, UltraTax CS automatically 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, then New Hampshire tab and select New Client Options.

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