1120 Rollover - turn off state estimate calculations when the estimates have been prepared outside of ONESOURCE
ONESOURCE Income Tax automatically calculates state-estimated tax vouchers. You can tell when estimates are system‑computed because each quarterly payment in the next year’s binder is equal, with no seasonal or actual-income adjustments.
For example, If Alabama’s current-year tax liability is $100,000 and estimates aren’t turned off, the next year’s binder will show $25,000 for each Alabama quarterly payment under tab.
If you calculate estimates outside ONESOURCE, turn off the automatic computation before rollover. This ensures the screen is blank for each quarter in the new year. After rollover, preparers can batch import actual estimated payments into next-year binders via ..
The following sections are two ways to turn off the estimate computations.
Enterprise Control Panel (ECP)
Use the following steps to turn off the estimate computations using the Enterprise Control Panel (ECP).
- As an Admin, go toBatch, thenBatch Process.
- Select the binder group that contains all domestic members.
- SelectTask.
- In the Enterprise Control Panel column, selectState, thenEstimate and Overpayment.
- In theState Estimated Tax Optiondropdown, selectSuppress compute and print.
Organizer
Use the following steps to turn off the estimate computations within Organizer.
- In Organizer, open the 2024Topcon(or yourC SubconandPC Subconfor non‑life returns) that includes the most domestic members.
- Go toOrganizer,States,Common State,Estimates and Extensions, thenEstimate Options.
- Under Estimated Tax Options, on theCommon Stateline, selectoption 2.
- SelectTransfer to Allto apply this option to the elimination, parent, subsidiary, divcon, and division binders.
