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Screen MDEst - Maryland Estimates (990)

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Overpayment Application

Enter
2
,
3
,
4
,
5
,
6
, or
7
 in the
Application of current year overpayment
 field, or make an entry in the
Next year declaration
 field.
Application of current year overpayment
These codes are the same as those in the federal EstT screen. This information determines how to apply any current-year overpayment. This affects what prints on Page 1 of the return, as well as the calculation of estimated tax payments for next year.

Form 500D

To calculate the estimated tax liability and the required payments for next year, enter
2
,
3
,
4
,
5
,
6
,
7
, or
8
 in the
Application of current year overpayment
 field, or make an entry in the
Next year declaration
 field.
Next year declaration
The codes are the same as in the EstT screen. Choose which calculation method you’d like to use to calculate the next year’s estimated tax amount. If you enter option
2
 through
7
 in the
Application of current year overpayment
 field, then
1
 is the default option in this field. If you leave both fields blank, estimates will not be generated.
Amounts for code 5 or 9
These amounts aren't adjusted by the amounts in the
Next year estimates already paid
fields. If you enter code
5
 in the
Next year declaration
 field, the amounts you enter in this field adjust the overpayment applied. Alternatively, if you enter code
9
, the amounts display on the voucher and don't adjust by any overpayment applied, if applicable.
Next year estimates already 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 estimates desired next year, if other than four
Enter a code to specify fewer than four vouchers. 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.
Amount to round up each estimate
Enter rounding specifications for the estimated payments. The estimated payments round up to the nearest factor indicated. For example, to round up each estimated payment to the nearest $10, enter
10
. If left blank, each estimated payment rounds up to the next dollar automatically.

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