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Screen LACEst - Louisiana Composite Estimate (1065)
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Overpayment Application
Application of current year overpayment
The available code options instruct UltraTax CS how to apply any current-year overpayment for Form R-6922 and the calculation of next year’s estimated tax payments.
To enter the application of current year overpayment one time for all new clients, select
Setup
, then 1065 Partnership
. In the Louisiana
tab, select New Client Options
. The overpayment options are listed in the following table.Code |
Result |
|---|---|
1 |
Refund 100 percent of the overpayment. This is the default option. |
2 |
Apply 100 percent of the overpayment to next year’s estimate; refund excess. This applies the overpayment to each estimate in full until the overpayment is exhausted or all estimated payments are made, in which case the excess is refunded. |
3 |
Apply to next year’s first estimate; refund excess. |
4 |
Apply equally to all next-year estimates; refund excess. This divides the overpayment by the number of current year payments desired. |
5 |
Apply the portion of the overpayment shown in Amount for code #5 or #8 to the estimates until the amount is exhausted or all payments are made, in which case the excess is refunded. |
6 |
Apply to first and second quarters of next year’s estimates; refund excess. |
7 |
Apply 100 percent of this year’s overpayment to next year’s estimates; provide no refund. |
8 |
Apply amount specified below. |
Estimates
Form R-6922ES - declaration
Codes
1
, 2
, 5
, and 9
indicate which method you want to use to determine the amount of the next year’s estimated tax. If you enter 2
through 8
in Application of current year overpayment
, UltraTax CS defaults to 1
in Form R-6922ES - declaration
. If you leave both of these boxes blank, UltraTax CS does not
generate estimate vouchers or estimate filing instructions. To enter the
Form R-6922ES - declaration
one time for all new clients, selectSetup
, then 1065 Partnership
. In the Louisiana
tab, select New Client Options
. The options for Form R-6922ES - declaration
are listed in the following table.Code |
Result |
|---|---|
1 |
Use the current year liability. This is the default if you entered 2 , 3 , 4 , 5 , 6 , 7 , or 8 in Application of current year overpayment . |
2 |
Use the current year liability plus the adjustment in Amount for code #2 . If you select this option, also enter an adjustment to the current year liability in Amount for code #2 . If the adjustment represents a decrease, enter a negative amount. |
5 |
Use amounts entered below before overpayment. Enter amounts in the Amts for Code 5 or 9 or Estimates Paid boxes to enter estimated payments for each quarter.note
UltraTax CS adjusts these amounts by any overpayment applied. |
9 |
Use amounts entered below. Enter amounts in the Amts for Code 5 or 9 or Estimates Paid boxes to enter estimated payments for each quarter. These won't be reduced by any overpayment. |
Amts for Code 5 or 9
Use these boxes to specify the estimate amounts for each quarter.
If code
5
is entered in Form R-6922ES - declaration
, enter the desired quarterly payments in these boxes. UltraTax CS adjusts these amounts by any overpayment applied and prints the calculated amounts on the vouchers.If code
9
is entered in Form R-6922ES - declaration
, enter the desired quarterly payments in these boxes. UltraTax CS doesn't adjust these amounts by any overpayment applied and prints these amounts on the vouchers.Estimates Paid
Use these boxes to specify the amounts already paid for each estimate. These amounts are subtracted from the calculated quarterly gross estimated tax liabilities to determine the net voucher amounts.
Number of estimates desired
The number of estimated payments in this box defaults to
4
. Enter a code to specify fewer than four vouchers. The options for the number of vouchers are listed in the following table.Code |
Result |
|---|---|
4 |
Four vouchers are generated. This option is the default. |
3 |
The last three vouchers are generated. Any unpaid balance from the first estimate is included in the second estimate voucher. |
2 |
The last two vouchers are generated. Any unpaid balance from the first or second estimates is included in the third estimate voucher. |
1 |
The last voucher is generated. 100 percent of the gross estimated tax liability is allocated to the fourth voucher. |
A |
First voucher. 100 percent of the gross estimated tax liability is allocated to the first voucher. |
B |
Second voucher. 100 percent of the gross estimated tax liability is allocated to the second voucher. |
C |
Third voucher. 100 percent of the gross estimated tax liability is allocated to the third voucher. |
Amount to round up each estimate
This lets you enter a rounding multiple for the estimated payments. If this box is blank, UltraTax CS automatically rounds each estimate payment up to the next dollar. To enter an amount to round up each estimate one time for all new clients, select
Setup
, then 1065 Partnership
. In the Louisiana
tab, selectNew Client Options
.