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Screen OJRTAEst - RITA Estimates (1040)

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Overview

Use this screen to complete RITA Estimate information.

Overpayment Application

To calculate next year's estimated city tax liability and required payments, enter
7
 in
Application of overpayment
, or make an entry in
Estimates - declaration for
.
Application of overpayment
The default is to refund any overpayment. Select a different option to calculate next year's estimated tax and apply the overpayment to that estimate. RITA requires overpayments to be all refunded or all credited; the overpayment can't be partially credited and the remainder refunded.

Estimates - Calculated

To calculate next year's estimated city tax liability and required payments, enter
7
 in
Application of overpayment
, or make an entry in
Estimates - declaration for
. No estimated payment vouchers are generated due to RITA payment requirements.
Estimates - declaration for
To calculate next year's estimated city tax liability and required payments, enter
7
 in
Application of overpayment
, or make an entry in
Estimates - declaration for
.
Amounts for codes 2 and 6, number of vouchers desired, rounding, and estimates paid
In this statement window, select RITA city code(s) to adjust the estimated tax calculation.
If you enter code
2
 in
Estimates - declaration for
, enter a positive or negative adjustment to the current year tax liability for that city in
Tax Adjustment Code 2
.
If you enter code
6
 in
Estimates - declaration for
, enter force amounts for taxable income, tax before withholding, withholding, or other city credit for that city in the fields.
Enter the amount of estimated payments already made for each quarter. These amounts and the overpayment applied subtracts from the calculated quarterly gross estimated tax liability to determine the net amounts.
The number of estimate payments defaults to four. Enter a code in
Number of Vouchers
 if fewer than four payments are to be calculated for that city.
To round estimated tax payment amounts, enter a rounding multiple in
Amount to Round Up
. For example, to round up each estimated payment to the nearest $10, enter
10
. Rounding is done before applying overpayments or amounts already paid.
Amounts for codes 5 and 9
In this statement window, enter RITA city code(s) to modify the estimated tax calculation. When
Estimates - declaration for
is code
5
 or
9
, enter the quarterly payments.
Quarterly estimate(s) to be paid with return
These fields determine which of next year's estimated payments are payable with this return. The default is to pay the first estimate with this return. Select any number of fields to pay those estimates with this return. Clear all fields to pay no estimated tax with this return.
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 city returns. Select
Setup
,
1040 Individual
,
Federal
 tab, select
New Client Options
, and mark
Treat the 4th quarter state estimate as due on December 31st
.

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