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Screen VAPmtS — Virginia Extension and Application (1120)

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Payments

Overpayment credited to next year
Enter the amount to apply to next year’s tax liability.
Withholding tax paid, not including extension payment
Enter the amount of any withholding tax paid not including extension payments.
Paid with extension
Each time you go to
File
, then
Print Extensions
 to print the extension, the application does the following.
  • Calculates the extension payment amount and enters the amount in this field.
  • Prints this amount on Form 502
Alternatively, you can replace 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 replaced amount and restore the original calculated amount, right-click the field and select
    Delete overrule
    .
  • To confirm the accuracy of the replaced amount, right-click the field and select
    Acknowledge overruled data
    . The application 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.
  • You can set a user preference to mark fields for which you replaced the calculated amounts and to list all overruled amounts in the
    Diagnostics
     window.

PTET Payments

Prior year overpayment
Enter any prior year overpayment. The application transfers the amount entered to Page 2 of the return and treats the amount as a 1st-quarter payment for purposes of calculating Form 500C. Don't include this amount again in the
1st payment
field.
Total, or / 1st payment - 5th payment
Enter the total of all estimates made for the tax year in the
Total, or
 field. The application transfers this amount to Page 2 and applies it equally to all quarters for purposes of calculating Form 500C. To replace the way the application applies the total to all quarters, enter actual amounts of estimated tax in the
1st payment
 through
5th payment
fields. Once amounts are entered in any of the individual payment fields, the application ignores the value in the
Total, or
 field for purposes of calculating Page 2 of the return and Form 500C.
The first 4 fields in the
Date Paid
 column default to the respective quarters’ due dates, and the 5th payment date defaults to the 4th-quarter date. If the payments were not made on the estimate due dates, enter the actual dates of payment in the fields provided.
Treat calculated amounts as paid / Calculated Amount
The application proformas the estimated payments calculated in the prior year to the
Calculated Amount
 fields. Enter
X
 to have the application transfer amounts from the
Calculated Amount
 fields to the
Amount Paid
fields.
note
Amounts entered in the
Amount Paid
fields are not replaced when the
Treat calculated amounts as paid
field is marked.
Paid with extension
Each time you print the extension by going to
File
, then
Print Extensions
, the application does the following.
  • Calculates the extension payment amount and enters the amount in this field.
  • Prints this amount on Form 502PTET.
Alternatively, you can replace 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 replaced amount and restore the original calculated amount, right-click the field and select
    Delete overrule
    .
  • To confirm the accuracy of the replaced amount, right-click the field and select
    Acknowledge overruled data
    . The application 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.
  • You can set a user preference to mark fields for which you replaced the calculated amounts and to list all overruled amounts in the
    Diagnostics
     window.

Extension

Extended due date
If you've printed an extension by selecting
File
, then
Print Extensions
, the extended due date appears in this field. Otherwise, enter the date to be used as the extended due date in the calculation of late-filing penalties and in the filing instructions. If this field is blank, it's assumed that the return was not put on extension
Balance due on extension (Force)
If an amount is entered here, the application calculates the amount of total withholding tax using the withholding entered and completes the
Extended due date
.

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