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Screen MJDETPmt - Detroit Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior year overpayment that was credited to the current year. The application treats this amount as a first-quarter payment for purposes of calculating interest and penalties on Form 5297. Don't include this amount again in
1st payment
.
Total, or / 1st - 5th payment
Enter the total of all estimates made for the tax year in
Total, or
. The application transfers this amount to Page 1 and applies it equally to all quarters for purposes of calculating interest and penalties on Form 5297. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax for the
1st payment
through
5th payment
boxes. Once amounts are entered in any of the individual payment boxes, the application ignores the amount in
Total, or
 for purposes of calculating Page 1 of the return and interest and penalties on Form 5297.
The first four boxes in the
Date Paid
column default to the respective quarters’ due dates, and the fifth payment date defaults to the fourth quarter date. If the payments weren't made on the estimate due dates, enter the actual dates of payment in the boxes provided.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in the prior-year application to the
Calculated Amount
 column. Enter
X
 to transfer amounts from the
Calculated Amount
column to the
Amount Paid
 column.
note
Amounts entered in the
Amount Paid
 column aren't replaced when
Treat calculated amounts as paid
 is marked.
Paid with extension
Each time you print the extension (via File, then Print Extensions), the application:
  • calculates the extension payment amount and enters it in this box, and
  • prints this amount on Form 5297, not on Form 5301.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this box. The application 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 verify the accuracy of the overruled amount, right-click the box and select Acknowledge overruled data. The application then turns off the acknowledge functionality from the right-click menu. To restore the original amount later, you'll need to enter it manually.
  • 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.

Extension

Extended due date
If you've printed an extension by selecting File, then Print Extensions, or have entered an amount in
Balance due on extension (Force)
, the extended due date automatically appears in this box. Otherwise, enter the date to be used as the extended due date when calculating the late filing penalties and in the filing instructions. If this box is blank, the application assumes that the return wasn't put on extension.
Balance due on extension (Force)
If an amount is entered in this box, the application calculates the amount of total tax using the estimated payments entered, completes
Extended due date
, and enters the amount in
Paid with extension
.

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