Screen KSEst - Kansas Estimates (990)

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Overpayment Application

To calculate the estimated tax liability and the required payments for next year, enter
2
,
3
,
4
,
5
,
6
, or
7
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 K-120, Page 2 and the calculation of estimated tax payments for next year.

Form K-120ES

To calculate the estimated tax liability and the required payments for next year, enter
2
,
3
,
4
,
5
,
6
, or
7
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. Choose which 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 will not generate if you leave both fields blank.
Number of estimates desired next year, if other than four
Enter a code to specify fewer than four vouchers. The overpayment and amounts already paid toward next year’s estimates are applied to each voucher based on the overpayment code and the quarter in which the amounts were paid.
Amount to round up each estimate
Enter rounding specifications for the estimated payments. The estimated payments round up to the nearest factor indicated. For example, to round up each estimated payment to the nearest $10, enter
10
. If left blank, each estimated payment rounds up to the next dollar automatically.

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