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Screen GENPmt - Generic 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 includes this amount on Form Z, Page 1. 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
 for purposes of calculating Form Z, Page 1.
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. The application 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 the Application for Extension form because the cities using the generic form accept the federal Form 7004.
If the federal return is extended and there is a balance due on the city return, UltraTax CS will print the Application for Extension form. If the federal return isn't extended, UltraTax CS will print the Application for Extension form.
Enter
1
 to force UltraTax CS to use federal Form 7004. The application won't print the Application for Extension form. Enter
2
 to force the application to print the Application for Extension form. To print the extension, select File, Print Extensions.
note
UltraTax CS also enters the due date in
Extended due date
.
Reason for extension
If the Form Z written request is selected, enter the reason for extending Form Z in the statement. Select Setup, 1065 Partnership, Ohio Cities tab, and then select Extension to enter a reason for extension that applies for all clients in UltraTax CS. If you enter a reason for extension in this box, the reason for extension from the Extension window doesn't print. If you leave this box and
Reason
in the Extension window blank, UltraTax CS prints the default line Additional time is requested to gather information to prepare a complete and accurate return on all extensions for this state application.
Extended due date
If an extension is printed by selecting File, Print Extensions, or
1
 or
2
is entered in
Calculate extension
, the extended due date automatically appears in this box. Otherwise, enter the date to be used as the extended due date in the filing instructions
Estimated tax liability (Force)
If you enter an amount, UltraTax CS enters this amount on the Application for Extension form as tax liability for year, enters
1
in
Calculate extension
, and completes
Extended due date
.
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
.

Other Payments

Schedule Z isn't required
Schedule Z calculates for all Generic cities attached to the return. Enter
X
 if Schedule Z shouldn't be calculated for this specific Generic city return.
Other payments
Use this box to enter the amount of other payments on Form Z, Page 2, Schedule Z.

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