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Screen CTEst - Connecticut Estimates (990)

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note
This screen is for UltraTax CS 2024 and prior.

Overpayment

To calculate the estimated tax liability and the required payments for next year, enter
2
,
3
,
4
,
5
,
6
,
7
, or
8
 in the
Application of current year overpayment
 field, or make an entry in the
Next year declaration
 field.
Application of current year overpayment
These codes are the same as those in the federal EstT screen. This information determines how to apply any current-year overpayment. This affects what prints on Form 109, Page 1 and the calculation of estimated tax payments for next year.

Form CT-990T-ES

To calculate the estimated tax liability and the required payments for next year, enter
2
,
3
,
4
,
5
,
6
,
7
, or
8
 in the
Application of current year overpayment
 field, or make an entry in the
Next year declaration
 field.
Next year declaration
The codes are the same as in the EstT screen. Select the calculation method you’d like to use to calculate the next year’s estimated tax amount. If you enter option
2
 through
8
 in the
Application of current year overpayment
 field, then
1
 is the default option in this field. Estimates do not generate if you leave both fields blank.
Amount for code 2
Enter an adjustment amount to use in the calculation of estimates if you selected code
2
 for the
Next year declaration
 field. If the adjustment represents a decrease, enter it as a negative amount.
Amounts for code 5 or 9, or next year’s payments made
If you selected code
5
 in the
Next year declaration
 field, enter the desired quarterly payments here. These amounts adjust by any overpayment applied, and print on the vouchers. If you selected code
9
, enter the desired quarterly payments here. These amounts are not adjusted by any overpayment applied, if applicable, and print on the vouchers.
Next years estimates already paid
Use these fields 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 voucher amounts.
Number of coupons desired next year, if other than four
Enter a code to specify fewer than four coupons. The overpayment and amounts already paid toward next year’s estimates are applied to each coupon based on the overpayment code and the quarter in which the amounts are paid.
Amount to round up each estimate
Enter rounding specifications for the estimated payments. The estimated payments can be rounded up to the nearest factor indicated. For example, if you want to round up each estimated payment to the nearest $10, enter
10
 in this field. If you leave this field blank, each estimated payment rounds up to the next dollar automatically.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 990 Exempt Organization
  • State: Connecticut

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