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Screen NJAltPmt - New Jersey alternative income tax payments and extension

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Prior year overpayment
Enter any prior year overpayment in this field. This amount transfers to Page 1 of the return and is automatically treated as a first quarter payment for purposes of calculating Forms PTE-160. Do not include this amount again in the 1st payment field.
Treat calculated amounts as paid
UltraTax CS proformas the estimated payments calculated in the prior year version of UltraTax CS to the
Calculated amount
 fields. Enter
X
 to transfer amounts from the
Calculated amount
 fields to the
Amount paid
 fields.
note
Amounts entered in the
Amount paid
 fields are not overwritten when you mark the
Treat calculated amounts as paid
 field.
Total, or: / 1st - 5th payment
Enter the total of all estimates made for the tax year in
Total, or
 field. UltraTax CS transfers this amount to Form PTE-100, and applies it equally to all quarters to calculate Form PTE-160.
To override the way the total applies to all quarters, enter the actual amounts of estimated tax in the
1st
 through
5th payment
 fields. After you enter amounts in any of the individual payment fields, UltraTax CS ignores the amount in
Total, or
 to calculate Form PTE-100 and Form PTE-160.
The 1st 4 fields in the
Date paid
 column default to the respective quarters’ due dates, and the 5th payment date defaults to the fourth-quarter date. If the payments weren't made on the estimate due dates, enter the actual dates of payment in the fields provided.
Paid with extension
Each time you print the extension, UltraTax CS:
  • Calculates the extension payment amount and enters it in this field.
  • Prints this amount on Form NJ-PTE-100, not on Form PTE-100-V.
To overrule the calculated amount, enter the amount actually paid with the current-year extension in this field. The new amount displays in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and select
    Delete overrule
    .
  • To verify the accuracy of the overruled amount, right-click the field 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 enter the amount manually.
  • You can set a user preference to mark checkboxes for overruled calculated amounts and list all overruled amounts in the
    Diagnostics
     window.
Calculate extension payment
Enter
1
 or leave this field blank to calculate the extension at 100 percent of the current year liability.
Enter
2
 to calculate the extension at 80 percent of the current year liability. Select this option to have the interest assessed on the remaining 20 percent of the balance due.
Leave this field blank and enter
0
 in
Balance due on extension (Force)
 to ensure creation of a zero balance due extension on Form PTE-100-V.
Extended due date
If you've printed an extension by selecting
field
, then
Print Extensions
, the extended due date automatically displays in this field. Otherwise, enter the date to use as the extended due date in the calculation of late-filing penalties and in the filing instructions. If this field is blank, UltraTax CS assumes that the return wasn't put on extension.
Balance due on extension (Force)
If there's an amount in this field, UltraTax CS calculates the amount of total tax using the estimated payments and withholding entered, completes
Extended due date
, and places the amount entered in the NJ Alternative Income Tax Payments section.

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