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Prepare 1040 extensions

Before you can file an extension, you'll need to do some data entry. Do the following for each 1040 return you're extending.

Open the return you want to extend. If the client doesn't exist in the current-year, proforma the client from last year or add a new client.

Open the

Ext

screen, in the Payments folder.

Choose 4868
or 2350
from the Calculate extension
dropdown list.

If you're preparing Form 2350, enter the following information:

Extended due date

Date First arrived in the foreign country

Date qualifying period begins

Date qualifying period ends

Foreign address

Calculate the amount due on extension using one of 2 ways:

Enter preliminary data to have UltraTax CS calculate an estimate of tax liability and balance due, or

Use Estimate of total tax liability (Force)
and Balance due on extension (Force)
on the Ext screen to force amounts.

If you want to include estimated tax penalties in the balance due:

Select Setup
, then 1040 Individual
.

On the Federal
tab, select Extensions
.

Mark the Include the projected estimated tax penalty in the balance due on extension
checkbox.