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Screen NCEst - North Carolina Estimates (1040)

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Overpayment Application

To calculate next year's estimated tax liability and required payments, enter
2
 through
8
 in the
Application of
2024
 overpayment
 field, or make an entry in the
Estimates - declaration for
2025
 field.
Application of
2024
 overpayment
These code options are the same as the federal Est screen options. Current-year overpayments are applied based on the code you choose.

Estimates - Calculated

Form NC-40 doesn't print when the amount of this payment field is blank. Forms with handwritten amounts aren't processed by North Carolina.
To calculate next year's estimated tax liability and required payments, enter
2
 through
8
 in the
Application of
2024
 overpayment
 field, or make an entry in the
Estimates - declaration for
2025
 field.
Estimates - declaration for
2025
If you enter codes
2
 through
8
 in the
Application of
2024
 overpayment
 field, the
Estimates - declaration for
2025
 field defaults to option
1
. If both of these fields are blank, the estimate coupons or estimate filing instruction information won't generate. To enter the
Estimate - declaration for
2025
 1 time for all new clients, select
Setup
,
1040 Individual
, the
North Carolina
 tab, and select
New Client Options
.
Amounts for code 5 or 9
For code
5
 in the
Estimates - declaration for
2024
 field, enter quarterly payments. These amounts are adjusted by the overpayment applied, if applicable. For code
9
 in the
Estimates - declaration for
2024
 field, enter quarterly payments. These amounts aren't adjusted by the overpayment applied.
2025
 Estimates paid
Use these fields to enter any estimate payments already made toward the next year's tax liability. These amounts are subtracted from the calculated quarterly gross estimated tax liability to determine the net voucher amounts when the
Estimate - declaration code for
2025
 is a code other than
9
.
Options for code 8
If you enter code
8
 from the
Estimates - declaration for
2025
 field, select an option to customize the tax used to calculate next year's estimates. The projected tax liability automatically adjusts based on the option you choose. To produce a specific refund amount, enter that amount in the
Amount of refund desired
 field.
Number of
2025
 vouchers desired
The number of estimate vouchers defaults to
4
. Enter a code to specify fewer than 4 vouchers. The overpayment and amounts already paid toward next year'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
Enter rounding specifications for the estimated payments. The estimated payments round up to the nearest factor indicated. For example, to round up each estimated payment to the nearest $10, enter
10
. If left blank, each estimated payment rounds up to the next dollar automatically.
Treat 4th quarter estimate as due on 12/31/
2025
Enter
X
 to indicate in the filing instructions that the 4th quarter estimate is due by 12/31/20. 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
Treat the 4 th quarter state estimate as due on December 31st
 field.

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