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Screen NMEst - New Mexico Estimates (1040)
Show all hidden content
Overview
Use this screen to complete portions of Forms PIT-1 and PIT-ES, Pages 1 and 2. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-NM displays it on the forms only, not in the input screen.
Enter state payments in the federal St Pmt screen so the amounts transfer to federal Schedule A. If you enter payments for this state in more than 1 of the units provided in the St Pmt screen, make sure to use the same fields for each unit. For example, if you use the
Total
field in 1 unit, use the Total
field for all units that pertain to New Mexico. Similarly, if you use the 1st - 5th
payment fields, enter amounts in the payment fields for all units used for New Mexico.Overpayment Application
Use this section to apply any
2025
overpayments to 2026
's estimated tax payments.Application of
2025
overpaymentThe code options available in this field are the same as those in UltraTax/1040. They instruct UltraTax CS how to apply any
2025
overpayment. Your decision affects what's printed on the return and the calculation of 2026
's estimated tax payments.New clients and converted clients may benefit from global options. Select
Setup
, 1040 Individual
, then the New Mexico
tab. Select New Client Options
and enter the code or codes with which newly created and converted client returns calculates. These fields transfer the global choice to newly created and converted clients. The transferred codes may be changed in these fields if necessary without being overwritten by the global choice made in the Setup screen. These fields are proforma'd from year to year; therefore, only newly created and converted clients are affected by global options.Estimates - Calculated
To calculate the estimated tax liability and required payments for
2026
, enter 2
through 8
in the Application of
field or make an entry in the 2025
overpaymentEstimates - declaration for
field.2026
Estimates - declaration for
2026
The codes used in this field are the same as those in UltraTax/1040. They tell UltraTax CS which method to use to determine the amount of
2026
's estimated tax.If you enter
2
through 8
in the Application of
overpayment field, UltraTax CS defaults to option 2025
1
in the Estimates - declaration for
field. If both of these fields are blank, UltraTax CS doesn't generate estimate coupons or filing instruction information.2026
Amounts for code 5 or 9
If you enter code
5
in the Estimates - declaration for
field, enter the desired quarterly payments in these fields. These amounts are adjusted by the overpayment applied, if applicable, and print on the vouchers.2026
If you enter code
9
in the Estimates - declaration for
field, enter the desired quarterly payments in these fields. These amounts aren't adjusted by the overpayment applied.2026
Amounts for
2026
estimates paidEnter 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 projections options for code 8
If you enter code
8,
Use tax from Tax Projection Worksheet, in the Estimates - declaration for
field, select an option in this field to customize the tax used to calculate next year's estimates. UltraTax CS automatically adjusts the projected tax liability based on the option choose. To produce a specific refund amount, enter that amount in the 2026
Amount of refund desired
field.Number of
2026
vouchers desiredThe number of estimate coupons defaults to
4
. Enter a code to specify fewer than 4 coupons. The overpayment and amounts paid toward 2026
's estimates are applied to each coupon based on the overpayment code and the quarter in which the amounts were paid.Treat 4th quarter estimate as due on 12/31/
2026
Use this field to indicate in the filing instructions that the 4th 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
, the Federal
tab, New Client Options
, and enter X
in the field.