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Screen CAEst - California Estimates (1040)

Overview

Use this screen to complete Form 540-ES, Estimated Tax for Individuals vouchers and the California Estimated Tax Payments Worksheet. For all calculated estimates, UltraTax CS defaults to generating a 1st quarter (30%), 2nd quarter (40%), and 4th quarter (30%) estimate voucher per Form 540-ES and Form 5805 instructions. Only codes
5
 and
9
 entered in the
Estimates - declaration for
2025
 field produce a third quarter voucher.

Overpayment Application

Use this section to apply any current-year overpayment of tax to next year's estimated tax payments.
The code options available in this field are the same as those in UltraTax/1040. They instruct UltraTax CS on how to apply any current-year overpayment. Your decision affects what prints on the second page of the return and the calculation of next year's estimated tax payments.
New clients and converted clients may benefit from global options. Choose Setup, 1040 Individual, and then California tab, select the New Client Options button and enter the code or codes with which newly created and converted client returns will calculate. These input screen fields will transfer the global choice to newly created and converted clients. The transferred codes may be changed in these fields if necessary without being overwritten by the global choice made in the New Client Options dialog. These fields are proforma'd from year to year, therefore, only newly created and converted clients are affected by global options.

Estimates - Calculated

Use this section to calculate estimated tax payments. UltraTax CS automatically calculates estimates when there is a
2
 through
8
 in the
Application of
2024
 overpayment
 field or an entry in the
Estimates - declaration for
2025
 field.
Use the CABank Screen, located in the General folder, to authorize electronic funds withdrawal for any or all estimates when return is filed electronically.
The code options available in this field are the same as those in UltraTax/1040. They tell UltraTax CS which method to use to determine the amount of the next year's estimated tax. If both of these fields are blank, UltraTax CS does not generate estimates for the filing instructions or the voucher information. The options for the
Estimates - declaration for
2025
 field include the code
4
 option available at the federal level to print the vouchers with the amount fields blank.
These fields specify the estimate amounts to be printed on the voucher for each quarter.
If you enter code
5
 in the
Estimates - declaration for
2025
 field, enter the desired quarterly payments in these fields. These amounts are adjusted by the overpayment applied, if applicable, and print on the vouchers.
If you enter code
9
 in the
Estimates - declaration for
2025
 field, enter the desired quarterly payments in these fields. These amounts are not adjusted by the overpayment applied.
To indicate an estimate already paid when using code 5 or 9, enter the amount in the column
2025
 Estimates paid
 only.
If you enter code
1
,
2
,
3
,
6
, or
8
 in the
Estimates - declaration for
2025
 field, enter any amount that has already been paid with each estimated tax voucher in the corresponding field. UltraTax CS subtracts these amounts, plus any overpayment applied, from the quarterly gross estimated tax liability to determine the net voucher amounts.
If code
5
 or
9
 is selected in the
Estimates - declaration for
2025
 field, amounts in these fields will not adjust the voucher amounts. To indicate an estimate already paid when using code 5 or 9, enter the amount in the column
2025
 Estimates paid
 only.
If you enter code
8
, Use tax from Tax Projection Worksheet, in the
Estimates - declaration for
2025
 field, choose an option in this field to customize the tax used to calculate next year's estimates. UltraTax CS automatically adjusts the projected tax liability based on the option you choose. To produce a specific refund amount, enter that amount in the
Amount of refund desired
 field.
The number of estimated vouchers defaults to code
3: 3 vouchers
. Enter a code in this field to specify fewer than three vouchers. The overpayment and amounts already paid toward next year's estimate are applied to each voucher based on the overpayment code and the quarter in which the amounts were paid. Payments already made entered in the
3rd payment
 field with estimate declaration code
5: Use amounts entered below, before overpayment
 are included in the calculation of the fourth quarter voucher.
This field allows you to enter rounding specifications for the estimated payments. The estimated payments are rounded to the nearest factor indicated. To round up each estimated payment to the nearest $10, enter
10
 in this field. If this field is blank, UltraTax CS automatically rounds each estimated payment up to the next dollar.
Use this field to indicate in the filing instructions that the fourth quarter estimate is due by 12/31/
2025
. A global default is available for all new and converted clients for all state returns. To select this option, choose Setup, 1040 Individual,  Federal tab, and then New Client Options button and mark the
Treat the 4th quarter state estimate as due on December 31st
 checkbox.
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