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Screens

Screen MIEst - Michigan Estimates (1120)

Overpayment Application

The codes available for this box are the same as those in the federal Est Screen. They instruct the application how to apply any current-year overpayment. The code selected affects what is printed on the calculation of next-year estimated tax payments. Enter one of the overpayment codes listed in the following table or select one from the dropdown list.
Code
Result
1
Refund 100 percent of the overpayment. This is the default.
2
Apply 100 percent of the overpayment to next year’s estimates; refund excess. This code applies the overpayment to each estimate in full until the overpayment is exhausted or all estimate payments are made, in which case the excess is refunded.
3
Apply to the first estimate; refund excess.
4
Apply equally to each estimate; refund excess. This code applies one-fourth of the overpayment to each estimate and refunds any excess overpayment.
5
Apply the amount shown in
Overpayment to be applied (Code 5 or 8)
 to the estimates until the amounts are exhausted or all payments are made, in which case the excess is refunded.
6
Apply to the first and second estimates; refund excess.
7
Apply 100 percent of overpayment to next year’s estimates; no refund.
8
Apply amount specified in
Overpayment to be applied (Code 5 or 8)
 to next year’s estimate. This code lets an overpayment to be specified even when estimates aren't required.

Estimates

These codes are the same as those in the federal Est screen. They tell the application which method to use to determine the amount of the next year’s estimated tax. If
2
,
3
,
4
,
5
,
6
, or
7
 is entered in
Application of current year overpayment
, the application defaults to
1
 in
Form 4913 - declaration for next year
.
If both of these boxes are blank, the application doesn't generate estimates or estimate filing instruction information. Enter one of the codes for
Form 4913 - declaration for next year
 listed in the following table, or select one from the dropdown list.
Code
Result
1
Use current year tax liability; if less than $800 use zero. This is the default if you enter code
2
,
3
,
4
,
5
,
6
, or
7
 in
Application of current year overpayment
.
2
Use the current-year liability adjusted by
Amount to adjust current year liability (Code 2)
. If you use this code, also enter adjustments to the current-year tax liability in
Amount to adjust current year liability (Code 2)
. If an adjustment represents a decrease, enter a negative amount.
3
Use the current year income tax liability even if the total liability falls below the minimum amount required to make estimated payments.
5
Use the amounts entered in the
Amounts for next year’s estimates (Code 5 or 9)
 boxes, before overpayment. If you select this code, the amounts entered in the
Amounts for next year’s estimates (Code 5 or 9)
 boxes are adjusted by any overpayment applied.
8
Use the projected tax liability. Estimates are prepared even if the projected tax liability is less than $800.
9
Use the amounts entered in the
Amounts for next year’s estimates (Code 5 or 9)
 boxes. If you select this code, the amounts entered in the
Amounts for next year’s estimates (Code 5 or 9)
 boxes aren't adjusted by any overpayment applied.
Use these boxes to specify the estimate amounts for each quarter. These amounts won't be adjusted by the amounts entered in the
Next year estimates already paid
 boxes.
If code
5
is entered in
Form 4913 - declaration for next year
, enter the quarterly payments in these boxes. These amounts are adjusted by the overpayment applied.
If code
9
is entered in
Form 4913 - declaration for next year
, enter the quarterly payment in these boxes. These amounts won't be adjusted by the overpayment applied.
Use these boxes to enter any estimate payments already made toward the next year.
If code
1
,
2
, or
3
, is entered in
Form 4913- declaration for next year
, these amounts and the overpayment applied are subtracted from the calculated quarterly gross estimated tax liability to determine the net estimate amounts.
If code 5 or 9 is entered in
Form 4913 - declaration for next year
, these amounts don't adjust the amounts entered in the
Amounts for next year’s estimates (Code 5 or 9)
 boxes.
The number of estimates defaults to 4. Enter a code to specify fewer than four estimates. The options for the number of estimates appear in the dropdown list and in the following table. The application applies the overpayment and amounts already paid toward next-year estimates to each estimate, based on the overpayment code and the quarter in which the amounts were paid.
Code
Result
4
Four estimates are generated. (default)
3
The last three estimates are generated. Any unpaid balance from the first estimate is included in the second estimate.
2
The last two estimates are generated. Any unpaid balance from the first or second estimate is included in the third estimate.
1
100 percent of the gross estimated tax liability is allocated to the fourth estimate.
A
100 percent of the gross estimated tax liability is allocated to the first estimate.
B
100 percent of the gross estimated tax liability is allocated to the second estimate.
C
100 percent of the gross estimated tax liability is allocated to the third estimate.
This box lets entry of a rounding specification for the estimated payments. If you leave this box blank, the application automatically rounds each estimated payment up to the next dollar.
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