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Screen KYWHPmt - Kentucky Withholding Payments (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment that was credited forward to the current year in this field. The application transfers the amount entered here to Page 2 of the return. The application also automatically treats the prior-year overpayment as a first-period payment for purposes of calculating Form 2210-K. Therefore, do not include this amount again in the
1st payment
 field.
Total, or / Specific payments if unequal or not timely: 1st - 5th payment
Enter the total of all estimates made in the
Total, or
 field. The application includes this amount on Page 2, Estimated payments, and applies it equally to all periods for the purposes of calculating Form 2210-K. To override the manner in which the application applies the total to all periods, enter the actual amounts of estimated tax in the
1st payment
through
5th
payment
 fields. Once amounts are entered in any of the individual payment fields, the application ignores the value in the
Total, or
 field for purposes of calculating Page 1 of the return and Form 2210-K. The first four fields in the
Date Paid
 column default to the due date of their respective periods, and the fifth payment date defaults to the fourth period date. If the payments were not made on the estimate due dates, enter the actual dates of payments in the fields provided.
Paid with extension
Each time you print the extension (via File > Print Extensions), the application:
  • calculates the extension payment amount and enters it in this field, 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 field. The application then displays the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and choose Delete overrule.
  • To confirm the accuracy of the overruled amount, right-click the field and choose Acknowledge overruled data. The application then disables 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 fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

Calculate extension payment
Enter
1
 or leave this field blank to have the application calculate the extension at 100 percent of the current year liability using extension Form 740NP-WH. Enter
2
 when there is zero tax due for return. When this option is selected, the application does not print Form 740NP-WH since KY accepts the federal Form 7004.
note
The application also enters the applicable due date in the
Extended due date
 field.
Extended due date
If you have printed an extension by choosing File > Print Extensions, the extended due date automatically appears in this field. Otherwise, enter the date to use in the filing instructions. If this field is blank, the application assumes that the return was not put on extension.

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