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Screen ALEst - Alabama Estimates (1040)

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Overview

Use this screen to complete Form 40-ES, Declaration of Estimated Tax and Vouchers. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-AL shows it on the form only, not in the input screen.
note
State payments are entered in the federal
StPmt
 screen so that the amounts transfer to the federal Schedule A. If payments for this state are entered in more than one of the four sections provided in the federal
StPmt
 screen, be sure to use the same fields for each section. For example, if you use
Total
 in one section, use
Total
 for all sections that pertain to Alabama. Similarly, if you use the
1st-5th payment
 fields, enter amounts in the payment fields for all sections used for Alabama.

Overpayment Application

To have UltraTax CS calculate 's estimated tax liability and required payments, enter
2
 through
8
 in
Application of overpayment
.
Application of overpayment
These codes are the same as those in UltraTax/1040. These codes instruct UltraTax CS how to apply any current-year overpayment. Your decision affects what's printed on Page 1 of the return and the calculation of 's estimated tax payments. If you enter
2
 through
8
 in
Application of overpayment
, UltraTax CS defaults to code
1
 in
Estimates - declaration for
. If you leave both of these fields blank, UltraTax CS does
not
 generate estimate vouchers or the filing instruction information.
New clients and converted clients may benefit from global options. Select
Setup
,
1040 Individual
, then
Alabama
 tab. Select
New Client Options
 and enter the code or codes with which newly created and converted client returns calculate. These input screen fields transfer the global choice to newly created and converted clients. The transferred codes may be changed in these fields if necessary without being replaced by the global choice made in the
New Client Options
 window. These fields are proforma'd from year to year; therefore, only newly created and converted clients are affected by global options.

Estimates - Calculated

To have UltraTax CS calculate 's estimated tax liability and required payments, make an entry in
Estimates - declaration for
.
Estimates - declaration for
These codes are the same as those in UltraTax/1040. UltraTax CS uses these codes to determine which method to use to determine the amount of 's estimated tax.
Amounts for code 5 or 9
If you enter code
5
 in
Estimates - declaration for
, enter the quarterly payments. These amounts are adjusted by the overpayment applied and print on the vouchers.
If you enter code
9
 in
Estimates - declaration for
, enter the quarterly payments. These amounts aren't adjusted by the overpayment applied.
Amounts for estimates paid
Enter any estimate payments already made toward the next year. These amounts and the applied overpayment subtract from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
Tax projection options for code 8
If you enter code
8
, Use tax liability from Tax Projection Worksheet, in
Estimates - declaration for
, select an option to customize the tax used to calculate next year's estimates. UltraTax CS automatically adjusts the projected tax liability based on the option you select. To produce a specific refund amount, enter that amount in
Amount of refund desired
.
Number of vouchers desired
The number of estimate vouchers defaults to
4
. Enter a code to specify fewer than four vouchers. The overpayment and amounts already paid toward 's estimates apply to each voucher based on the overpayment code and the quarter in which the amounts were paid.
Amount to round up each estimate
This field lets you enter rounding specifications for the estimated payments. The estimated payments can be rounded up to the nearest factor indicated. For example, to round up each estimated payment to the nearest $10, enter
10
. If you leave this field blank, UltraTax CS automatically rounds each estimated payment up to the next dollar.
Treat 4th quarter estimate as due on 12/31/
Use this field to indicate in the filing instructions that the fourth quarter estimate is due by 12/31/. A global default is available for all new clients for all state returns. To select this option, select
Setup
,
1040 Individual
,
Federal
 tab, then
New Client Options
, and enter
X
 in
Treat the 4th quarter state estimate as due on December 31st
.

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