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Screen OHCEst - Ohio Pass-Through Entity Estimates (1065)

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Estimates

Form PTE-UPC (IT-4738ES) - declaration for next year
Codes
1
,
2
,
3
, and
9
 indicate which method to use to determine next year’s estimated tax. If this box is blank, UltraTax CS
does not
 generate estimate coupons or the estimate filing instructions.
To enter the Form PTE-UPC (IT-4738ES) declaration for next year one time for all new clients, select Setup, 1065 Partnership, Ohio tab, and select New Client Options. The options for the
Form PTE-UPC (IT-4738ES) - declaration for next year
 box are listed in the table that follows.
Code
Result
1
Use current year liability; if less than $500, use zero. No estimates are calculated if the total liability is less than the minimum amount required for estimate payments.
2
Use current year liability adjusted by amounts specified. Enter an adjustment to the current-year tax liability in the
Adjustments for code #2
and/or
Distributive share of refundable business credit
 boxes. If the adjustment represents a decrease, enter a negative amount.
3
Use current year liability even if less than $500. This option lets estimates to be calculated even when the tax liability is below the minimum amount required for estimate payments.
9
Use amounts entered. Enter amounts in the
Amts for Code 9
 or
Estimates Paid
 boxes to enter estimated payments for each quarter.
Adjustments for code #2 / Distributive share of refundable business credit
These boxes let you adjust the current year’s liability for calculating the next year’s estimated tax. If the adjustment represents a decrease, enter a negative amount.
Amts for Code 9
Use these boxes to specify the estimate amounts for each quarter.
If code
9
 is entered in
Form PTE-UPC (IT-4738ES) - declaration for next year
, enter the quarterly payments in these boxes. UltraTax CS doesn't adjust these amounts by any overpayment applied and prints these amounts on the coupons.
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 coupon amounts.
Number of coupons desired
The number of coupons in this box defaults to
4
. Enter a code to specify fewer than four coupons. Amounts already paid toward next year’s estimates are applied to each coupon based on the quarter in which the amounts were paid. The options for the number of coupons are listed in the following table.
Code
Result
4
Four coupons are generated. This is the default option.
3
The last three coupons are generated. Any unpaid balance from the first coupon is included in the second estimate coupon.
2
The last two coupons are generated. Any unpaid balance from the first or second coupon is included in the third estimate coupon.
1
The last coupon is generated. 100 percent of the gross estimated tax liability is allocated to the fourth coupon.
A
First coupon. 100 percent of the gross estimated tax liability is allocated to the first coupon.
B
Second coupon. 100 percent of the gross estimated tax liability is allocated to the second coupon.
C
Third coupon. 100 percent of the gross estimated tax liability is allocated to the third coupon.
Amount to round up each coupon
These boxes let you enter a rounding multiple for the estimated payments. If this box is blank, UltraTax CS automatically rounds each estimated 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, Ohio tab, and select New Client Options.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1065 Partnership
  • State: Ohio

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