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Screen CINPmt - Cincinnati Payments and Extension (1065)

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Payments

Prior year overpayment
Enter the amount of any prior year overpayment. UltraTax CS transfers the amount entered to Page 1. Don't include this amount again in
1st payment
.
Total, or / 1st - 5th payment
Enter the total of all estimates made for the tax year in
Total, or
. UltraTax CS transfers this amount to Page 1 and applies it equally to all quarters.
To override the way UltraTax CS applies the total to all quarters, enter actual amounts of estimated tax in the
1st payment
 through
5th payment
 boxes. Once amounts are entered in any of the individual payment boxes, UltraTax CS ignores the value in
Total, or
.
Treat calculated amounts as amounts paid / Calculated Amount
If last year’s return was completed using UltraTax CS and estimates were calculated for the current year, UltraTax CS proformas the amounts into the
Calculated Amount
 boxes. If there hasn't been data entry for estimate payments, enter
X
 in
Treat calculated amounts as amounts paid
 to move the calculated amounts into the
Amount Paid
 boxes.
Paid with extension
Each time you print the extension (via File, then Print Extensions), UltraTax CS does the following:
  • calculates the extension payment amount and enters the amount in this box, 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 box. UltraTax CS then displays the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the box and select Delete overrule.
  • To confirm the accuracy of the overruled amount, right-click the box and select
    Acknowledge overruled data. UltraTax CS then turns off the acknowledge functionality from the right-click menu. To restore the original amount later, you'll need to manually enter the amount.
  • If desired, you can set a user preference to mark boxes for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

Calculate extension
If you leave this box blank and run the Extension utility, UltraTax CS automatically selects the extension form to be used. If the federal return is extended and there is no balance due on the city return, UltraTax CS won't print Form E-1 because Cincinnati accepts the federal Form 7004.
If the federal return is extended and there is a balance due on the city return, UltraTax CS will print Form E-1. If the federal return isn't extended, UltraTax CS will print the Form E-1.
Enter
1
to force UltraTax CS to use federal Form 7004. UltraTax CS won't print Form E-1. Enter
2
to force UltraTax CS to print Form E-1. To print the extension, select File, then Print Extensions.
note
UltraTax CS also enters the due date in
Extended due date
.
Extended due date
If an extension is printed by selecting File, then Print Extensions, or
1
 or
2
is entered in
Calculate extension
, the extended due date automatically appears in this box. Otherwise, enter the date that is to be used as the extended due date in the filing instructions.
Balance due on extension (Force)
If an amount is entered, UltraTax CS displays this amount on the extension, marks
Calculate extension
, completes
Extended due date
, and displays the amount in
Paid with extension
.

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