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Screen OKEst - Oklahoma Withholding Estimates (1065)

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Estimates

Form WTP 10005 - declaration for next year
Enter codes
1
through
3
or
9
 to determine the amount of the next year’s estimated tax. If this field is blank and the client has nonresident partners, UltraTax CS generates estimate vouchers with the G2 checkbox marked and the amounts blank. To enter the Form WTP 10005 declaration one time for all new clients, select
Setup
,
1065 Partnership
 then
Oklahoma
 tab and select the
New Client Options
 button. The options for the
Form WTP 10005 - declaration for next year
 field are listed in the field view and in the following table.
Code
Result
1
Use the current-year liability. If less than $500, use zero.
note
If the current year’s liability is less than the minimum filing requirements, estimates are not generated.
2
Use the current-year liability plus the adjustment in the
Amount for code # 2
 field. If you choose this option, also enter an adjustment to the current liability in the
Amount for code #2
 field. If the adjustment represents a decrease, enter a negative amount.
3
Use the current-year liability, even if it is less than $500. This option allows estimates to be calculated even when the tax liability is less than the minimum amount required for estimate payments.
9
Use amounts entered below.
Amts for Code 9
Use these fields to specify the estimate amounts for each quarter. If code
9
 is entered in the Form WTP 10005 - declaration for next year field, enter the desired quarterly payments in these fields. UltraTax CS does not adjust these amounts by any overpayment applied, if applicable, and prints these amounts on the vouchers.
Estimates Paid
Use these fields to specify the amounts already paid for each estimate. These amounts are subtracted from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
Number of vouchers desired
The number of estimated vouchers defaults to
4
. Enter a code to specify fewer than four vouchers. The options for the number of vouchers are listed in the field view and in the following table. The overpayment and amounts already paid toward next year’s estimates are applied to each voucher based on the overpayment code and the quarter in which the amounts were paid.
Code
Result
4
Four vouchers are generated. This is the default option.
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 estimate is included in the third estimate voucher.
1
The last voucher is generated. 100 percent of the gross estimated liability is allocated to the fourth voucher.
A
First voucher. 100 percent of the gross estimated liability is allocated to the first voucher.
B
Second voucher. 100 percent of the gross estimated liability is allocated to the second voucher.
C
Third voucher. 100 percent of the gross estimated liability is allocated to the third voucher.
Amount to round up each voucher
This field allows you to enter a rounding multiple for the estimate payments. If this field 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
,
1065 Partnership
 then
Oklahoma
 tab and select the
New Client Options
 button.

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