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Screen MOCPmt - Missouri Composite Payments and Extension (1120)

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Payments

Prior year overpayment
Use this field to enter any prior-year overpayment credited to the current year. The application transfers this amount to Form MO-1040, Page 2.
Total, or
Enter the total of all estimates made for the tax year in the
Total, or
field. The application transfers this amount to Page 2 of the return and applies it equally to all quarters for purposes of calculating Form MO-2210. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax for the
1st payment
through
5th payment
. Once amounts are entered in any of the individual payment fields, the application ignores the value in the
Total, or
 field. Do not include the amount of the prior-year overpayment in the
1st payment
field.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in the prior-year application to the
Calculated Amount
 fields. Enter
X
 to transfer the application amounts from the
Calculated Amount
 fields to the
Amount Paid
 fields.
1st - 5th payment
Normally, the sum of the amounts in the
Amount Paid
 fields should equal the amount that would have been entered in the
Total, or
 field. UltraTax/1120 ignores the
Total, or
 field if any amounts are entered in the
Amount Paid
 fields. Enter the payments in chronological order. The dates in the
Date Paid
 fields default to the due dates of the estimated payments. The default date for the fifth payment is the same as the due date of the fourth payment. If you enter a date for the fifth payment, that date must be later than the due date of the fourth payment; otherwise, the application considers it paid on the due date of the fourth payment. If payments were made on time, enter the dates as the fifteenth of the month, even if the actual due date was later because of a Saturday, Sunday, or holiday.
note
Enter the actual amount of the payment in the
Amount Paid
 field. Do not include the amount of the prior-year overpayment in the
1st payment
 field.
Paid with extension
Each time you print the extension (via File then Print Extensions), the application:
  • calculates the extension payment amount and enters it in this field, and
  • prints this amount on Form MO-1040.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The application then displays the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and choose Delete overrule.
  • To confirm the accuracy of the overruled amount, right-click the field and choose Acknowledge overruled data. The application then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to enter it manually.
  • If desired, you can set a user preference to mark fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

Calculate extension
Enter
1
 or leave this field blank to have the application calculate the extension at 100 percent of the current year tax liability using Form MO-60. Enter
2
 when zero tax is due for the return. When this option is selected, the application does not print Form MO-60 because Missouri accepts the federal Form 7004. To print the extension, choose File > Print Extensions.
Code
Result
1
The application uses 100% of current liability when calculating the extension.
2
Missouri Form MO-60 is not generated and federal Form 7004 prints with the main return when filed.
Extended due date
If you have printed an extension by choosing File > Print Extensions, or have entered an amount in either the
Balance due on extension (Force)
 or the
Tentative tax liability (Force)
 field, the extended due date automatically appears in this field. Otherwise, enter the date to be used as the extended due date when calculating the late filing penalties and in the filing instructions. If this field is blank, the application assumes that the return was not put on extension.
Tentative tax liability (Force)
Enter an amount, including
0
 (zero), if you want to override (force) the calculated amount on Form MO-60 line 1. The application calculates the balance due on extension based on the amount entered here, less any payments.
Balance due on extension (Force)
If an amount is entered in this field, the application calculates the amount of total tax using the estimated payments that were entered. The application also completes the
Extended due date
 field and places the amount entered in the
Paid with extension
field in the Payments section.

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