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Screen NYExt - New York Extension (1040)

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Overview

Use this screen to complete Form IT-370. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-NY shows it on the form only, not in the screen.

General Information

Calculate extension
Enter
X
 if you want UltraTax CS to calculate the extension, Form IT-370. If you enter
X
, UltraTax CS enables you to print Form IT-370 by selecting
File
, then
Print Extensions
.
  • Form IT-370 is supported for electronic filing. To file the New York extension electronically, open the federal ELF screen and enter
    X
     in the
    File state extension electronically
     field.
  • For electronically filed extensions with remittance, direct debit is required. Go to the NYBank screen to enter banking information and to enable direct debit.
  • UltraTax CS automatically marks this field if you enter an amount in the
    Balance due on extension (Force)
     fields. UltraTax CS also enters the applicable due date in the
    Extended due date
     field.
Extended due date
If you've already prepared an extension for your client or have made an entry in the
Calculate extension
 field, an extended due date automatically appears in this field. Otherwise, enter the date that's to be used as the extended due date in the calculation of late-filing penalties and in the filing instructions.
Extension payment actually made; reportable on main return
Each time you print the extension (via the
File
,
Print Extensions
), UltraTax CS:
  • Calculates the extension payment amount and enters it in this field, and
  • 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 in black.
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'll need to enter it manually.
  • You can set a user 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 New York State portion, including use tax (Force) / ... / Balance due on extension MCTMT portion (Force)
If you enter amounts in these fields, UltraTax CS calculates the amount of total tax due to each jurisdiction (New York, New York City,Yonkers and/or MCTMT) using the estimated payments and withholding you have entered elsewhere, uses that result to mark Form IT-370 checkboxes for type of tax due, enters the appropriate code in the
Calculate extension
 field, completes the
Extended due date
 field, and transfers the amount to the
Extension payment actually made; reportable on main return
 field.
Additional payment
Enter the payment amount and the date of the payment. This information is used in the calculation of late filing payment penalties and interest, if applicable.

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