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Screen SCExt - South Carolina Extension and Payments (1040)

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Overview

Use this screen to calculate the extension Form SC4868 to extend the due date of the return and enter any extension payments, additional payments, or nonresident sale of real estate withholding payments. If information transferred from UltraTax/1040 doesn’t require additional data or coding, UltraTax/1040-SC shows it on the form only, not in the input screen.
note
State payments are entered in the federal St Pmt screen, so the amounts transfer to federal Schedule A. If you enter payments for this state in more than one of the units provided in the federal St Pmt screen, be sure to use the same fields for each unit. For example, if you use the
Enter total, or
 field in one unit, use the
Enter total, or
 field for all units that pertain to South Carolina. Similarly, if you use the
1st payment
 -
5th payment
 fields, enter the amounts in the payment fields for all units used for South Carolina.

Extension

Use this section to calculate an extension and extend the due date of the return.
Calculate extension
Enter
X
 to calculate extension Form SC4868. To print extensions, select
File
 then
Print Extensions
.
  • UltraTax CS automatically enters
    X
     if you enter an amount in the
    Balance due on extension (Force)
     field.
  • UltraTax CS automatically calculates the balance due on the SC4868 Tax Computation Worksheet.
Extended due date
If an extension is printed by selecting
File
 then
Print Extensions
, or an entry is made in the
Calculate extension
 field, the extended due date automatically appears in this field. Otherwise, the date manually entered in this field is used as the extended due date in the filing instructions and when calculating late filing penalties.
Extension payment actually made; reportable on main return
Each time you print the extension (via
File
 then
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 choose
    Delete overrule
    .
  • To confirm the accuracy of the overruled amount, right-click the field and choose
    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 enter it manually.
  • If desired, 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.
Estimate of total tax liability (Force)
If you enter an amount in this field, UltraTax CS enters
X
 in the
Calculate extension
 field, completes the
Extended due date
 field and uses the amount entered as the tax liability on the extension.
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 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.

Payments

Withholding reported on Form I-290 with regard to nonresident sale of real estate and entered in the federal A screen in the
State and local income tax
 statement window using code
3
 for real estate withholding automatically transfers to the NR sale of real estate line on SC1040, Page 3 for part-year and nonresident South Carolina returns. Use the
Nonresident sale of real estate withholding (Force)
 field to force a different amount including 0, if applicable.

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