Triva isn't available right now.
Check out the support page for our phone number and hours
Screen NJPmt - New Jersey Payments and Extension (1065)
Show all hidden content
Partnership Filing Fee Payments
Current year tax paid with PART-200-T
Each time you print the extension (via File, then Print Extensions), UltraTax CS does the following:
- 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
- To delete the overruled amount and restore the original calculated amount, right-click the box and choose Delete overrule.
- To confirm the accuracy of the overruled amount, right-click the box and choose Acknowledge overruled data. UltraTax CS then turns off the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to manually enter the amount.
- If desired, you can set a user preference to select boxes for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.
Nonresident Partners Tax Payments
Total, or: Specific payments if unequal or not timely: 1st - 5th payment
Enter the total of all estimates made for the tax year in
Total, or
. UltraTax CS transfers this amount to Form NJ-CBT-1065, Page 2, line 8. To override the way UltraTax CS applies the total to all quarters, enter individual amounts of estimated tax in the
1st payment
through 5th payment
boxes. If you enter amounts in any of the individual payment boxes, UltraTax CS ignores the value in Total, or
for purposes of calculating Form NJ-CBT-1065.Treat calculated amount as amounts paid / Calculated Amount
If the return was completed using last year’s application 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.Current year tax paid with CBT-206
Each time you print the extension (via File, then Print Extensions), UltraTax CS does the following:
- 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
- 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 turns off the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to manually enter the amount.
- If desired, you can set a user preference to select boxes for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.
Extension - Partnership Filing Fee
Calculate extension payment
Enter
3
when zero tax is due for the return. When this option is selected, UltraTax CS will print federal Form 7004 instead of Form Part-200-T because New Jersey accepts the federal Form 7004. Federal Form 7004 will also print with Form Part-200-T. If you select federal Form 7004 and there is a balance due or the federal return isn't extended, the 7004 and extension filing instruction won't print.
Enter
1
to have UltraTax CS calculate the extension at 100 percent of the current year liability using Form Part-200-T. Enter 2
to have UltraTax CS calculate the extension at 80 percent of the current year liability using Form Part-200-T. To print the extension, select File, then Print Extensions.
note
UltraTax CS also enters the due date in
Extended due date
Extended due date
This box is for filing instruction purposes only. Use this box to enter the extended due date for the return. The extended due date will also automatically appear in this box if you select File, then Print Extensions.
Balance due on PART-200-T extension (Force)
When an amount is entered here, UltraTax CS displays this amount on Form PART-200-T, completes
Extended due date
, and displays the amount in Current year tax paid with PART-200-T
.Extension - Nonresident Partners Tax
Calculate extension payment
Enter
3
when zero tax is due for the return. When this option is selected, UltraTax CS will print federal Form 7004 instead of Form CBT-206 because New Jersey accepts the federal Form 7004. Federal Form 7004 will also print with Form CBT-206. If you select federal Form 7004 and there is a balance due or the federal return isn't extended, the 7004 and extension filing instruction won't print.
Enter
1
to have UltraTax CS calculate the extension at 100 percent of the current year liability using Form CBT-206. Enter 2
to have UltraTax CS calculate the extension at 80 percent of the current year liability using Form CBT-206. To print the extension, select File, then Print Extensions.
note
UltraTax CS also enters the due date in
Extended due date
.Extended due date
This box is for filing instruction purposes only. Use this box to enter the extended due date for the return. The extended due date will also automatically appear in this box if you select File, then Print Extensions.
Balance due on CBT-206 extension (Force)
When an amount is entered here, UltraTax CS displays this amount on Form CBT-206, completes
Extended due date
, and displays the amount in Current year tax paid with CBT-206
.Penalties and Interest
Date return filed
UltraTax CS calculates underpayment interest until the date entered in this box. If blank, the box defaults to the calculated due date of the return.
Prior year tax
Enter the prior year nonresident partner tax from Form PART-100 if the prior year return was filed for an entire 12-month period. A
0
(zero) is considered to be the tax for the prior year. If this box is blank, UltraTax CS assumes this is a new partnership and calculates the underpayment penalty and interest on the current year tax.Suppress underpayment of estimated tax
Enter
X
to suppress the printing of Form CBT-160-P and the calculation of the CBT-160-P penalty on the return. UltraTax CS prints Form CBT-160-P and selects the checkbox on Form CBT-1065 if this box is blank and the underpayment penalty is due.note
To suppress the penalty but print the form, enter
X
in Suppress underpayment of estimated tax
, select Setup, 1065 Partnership, New Jersey tab, and select Tax Return. Highlight Form CBT-160-P and select Always if data
to force UltraTax CS to always print the form when it contains relevant data.