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Screen MNExt - Minnesota Extension (1040)

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Overview

Use this screen to complete the Minnesota Income Tax Extension Payment voucher and enter additional payments made.

Extension Information

Calculate extension
Enter
X
 to calculate the extension. To print the extension, select
File
 then
Print Extensions
.
Extended due date
If an extension is printed, or an entry is made in the
Calculate extension
 field, the extended due date appears in this field. Otherwise, the date manually entered in this field is used as the extended due date in the filing instructions and for calculating late filing penalties.
Extension payment actually made (Reportable on main return)
Each time you print the extension, UltraTax CS does the following:
  • calculates the extension payment amount and enters the amount in this field
  • prints this amount on the main return, not on the extension.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. UltraTax CS then displays the new amount.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and select
    Delete overrule
    .
  • To confirm the accuracy of the overruled amount, right-click the field and select
    Acknowledge overruled data
    . UltraTax CS then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to manually enter the amount.
  • If desired, you can set a preference to mark fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.
Balance due on extension (Force)
If you enter an amount in this field, UltraTax CS calculates the amount of total tax using the estimated payments and withholding entered, marks the
Calculate extension
 field, completes the
Extended due date
 field, and transfers the amount that you enter in the
Extension payment actually made; reportable on main return
 field.
Additional payment
Enter the payment amount and the date of the payment. The amount paid is included as a payment on the return. When the date paid is after the original due date, the amount is excluded from the calculation of an extension. The payment reduces the balance due for late interest and penalty calculations as of the date paid.
Claim of right repayment credit
When section 1341 credit for repayment is included on Federal 1040, enter the credit for the Minnesota return. This amount is added to the total payments on Form M1, Page 2 and text "M.S. 290.07" is displayed next to the total amount.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • State: Minnesota

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