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Screen KSCEst - Kansas Composite Estimates (1120)
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Overpayment Application
Application of current year overpayment
The codes used in this box are the same as those in the application. They instruct the application how to apply any current-year overpayment. This affects what is printed on Page 2 of the return and the calculation of next year’s estimated tax payments. The overpayment options are listed in the following table of can be selected from the dropdown list.
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 estimates; refund excess. This code 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 each estimate; refund excess. This code divides the total overpayment by the number of next-year payments, applies this amount to each estimate, and refunds any excess overpayment. |
5 | Apply the portion of the overpayment shown in Overpayment to be applied (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 next year’s first and second estimates; refund excess. |
7 | Apply 100 percent of this year’s overpayment to next year’s estimates; provide no refund. |
8 | Apply amount specified in Overpayment to be applied (Code 5 or 8) to next year’s estimate. This specifies an overpayment even when estimates aren't required or generated. |
note
New clients and converted clients may benefit from global options. Select Setup, 1120 Corporation, Kansas tab, select New Client Options, and enter the code in
Overpayment application
. The selection in this box transfers to the state input screen for newly created and converted clients and is used to calculate the overpayment application. The transferred code may be changed in this box if necessary and isn't replaced by the selection in the New Client Options window.Estimates
Form K-40ES - declaration for next year
These codes are the same as those in the application. They tell the application which method to use to determine the amount of the next year’s estimated tax. If you enter
2
through 7
in Application of current year overpayment
, the application defaults to 1
in Form K-40ES - declaration for next year
. If both of these boxes are blank, the application does not
generate estimate vouchers or filing instruction information.If you need a blank estimate voucher, select Help, Tax Subject Index, then Web Form Instructions to link to Form K-40ES from Kansas’s website. The estimate vouchers produced by the application aren't approved for handwritten use.
The codes for
Form K-40ES - declaration for next year
are listed in the dropdown list and in the table that follows:Code | Result |
|---|---|
1 | Use the current-year tax liability. This is the default option if options 2 through 8 are selected in Application of current year overpayment . |
2 | Use the current-year tax liability adjusted by the amount following. If this code is used, also enter an adjustment to the current-year tax liability in Amount to adjust current year liability (Code 2) . If the adjustment represents a decrease, enter a negative amount. |
5 | Use the amounts in the Amounts for next year’s estimates (Code 5 or 9) boxes, before overpayment. If you select this option, the amounts entered in the Amounts for next year’s estimates (Code 5 or 9) boxes are adjusted by any overpayment. |
9 | Use the amounts entered in the Amounts for next year’s estimates (Code 5 or 9) boxes. If you select this option, the amounts entered in the Amounts for next year’s estimates (Code 5 or 9) boxes aren't adjusted by any overpayment applied. |
note
New clients and converted clients may benefit from global options. Select Setup, 1120 Corporation, Kansas tab, select New Client Options, and enter the code in
Next year’s estimate declaration
. The selection in this box transfers to the state input screen for newly created and converted clients and is used to calculate next year’s estimates. The transferred code may be changed in this box if necessary and isn't replaced by the selection in the New Client Options window.Amounts for next year’s estimates (Code 5 or 9)
Use these boxes to specify the estimate amounts for each quarter. These amounts won't be adjusted by the amounts entered in the
Next year estimates already paid
boxes.If code
5
is entered in Form K-40ES - declaration for next year
, enter the quarterly payments in these boxes. These amounts are adjusted by the overpayment applied.If code
9
is entered in Form K-40ES - declaration for next year
, enter the quarterly payments in these boxes. These amounts won't be adjusted by the overpayment applied.Next year estimates already paid
Use these boxes to enter any estimate payments already made toward the next year.
If code
1
or 2
is entered in Form K-40ES - declaration for next year
, these amounts and the overpayment applied are subtracted from the calculated quarterly gross estimated tax liability to determine the net estimate amounts.If code
5
or 9
is entered in Form K-40ES - declaration for next year
, these amounts don't adjust the amounts entered in the Amounts for next year’s estimates (Code 5 or 9)
boxes.Number of estimates desired, if other than four
The number of estimate vouchers defaults to
4
. Enter a code to specify fewer than four vouchers. The codes for the number of vouchers are listed in the dropdown list 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. |
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 | 100 percent of the gross estimated tax liability is allocated to the fourth voucher. |
A | 100 percent of the gross estimated tax liability is allocated to the first voucher. |
B | 100 percent of the gross estimated tax liability is allocated to the second voucher. |
C | 100 percent of the gross estimated tax liability is allocated to the third voucher. |
Amount to round up each estimate
This box lets you enter rounding specifications for the estimated payments. The estimated payments can be rounded up to the nearest factor indicated. For example, to round up each estimated payment to the nearest $10, enter
10
. If this box is blank, the application automatically rounds each estimated payment up to the next dollar.note
New clients and converted clients may benefit from global options. Select Setup, 1120 Corporation, Kansas tab, select New Client Options, and enter the amount in
Round estimates by
. The amount entered in this box transfers to the state input screen for newly created and converted clients and is used to round up the estimated payments to the nearest factor. The transferred amount may be changed in this box if necessary and isn't replaced by the selection in the New Client Options window.