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Screen LAEst - Louisiana Estimates (1040)

Overview

Use this screen to complete portions of Forms IT-540, IT-540B, IT-540ES, and the Louisiana Estimated Tax Payments Worksheet. If the information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-LA shows the information on the form only, not in the input screen.
Enter state payments in the federal
St Pmt
 screen so the amounts transfer to federal Schedule A. If you enter payments for this state in more than one of the units provided in the
St Pmt
 screen, be sure to use the same fields for each unit. For example, if you use
Enter total, or
 in one unit, use
Enter total, or
 for all units that pertain to Louisiana. Similarly, if you use the
1st - 5th
 fields, enter amounts in the payment fields for all units used for Louisiana.

Overpayment Application

Use this section to apply any
2024
 overpayment to
2025
's estimated tax payment.
The code options available in this field are the same as those in UltraTax/1040. They instruct UltraTax CS how to apply any
2024
 overpayment. Your decision affects what's printed on the return and the calculation of
2025
's estimated tax payments.
New clients and converted clients may benefit from global options. See
Setup
,
1040 Individual
,
Louisiana
 tab. Select
New Client Options
 and enter the code, or codes with which newly created and converted client returns calculate. These fields transfer the global choice to newly created and converted clients. The transferred codes may be changed in these fields if necessary, without being replaced by the global choice made in the
Setup
 screen. These fields are proforma'd from year to year; therefore, only newly created and converted clients are affected by global options.

Estimates - Calculated

To calculate the estimated tax liability and required payments for
2025
, enter
2
 through
8
 in
Application of
2024
 overpayment
 or make an entry in
Estimates - declaration for
2025
.
These codes are the same as those in UltraTax/1040. They instruct UltraTax CS which method to use to determine the amount of the next year's estimated tax.
If you enter codes
2
 through
8
 in
Application of
2024
 overpayment
, UltraTax CS defaults to option 1 in
Estimates - declaration for
2025
. If you leave both of these fields blank, UltraTax CS does
not
 generate estimate vouchers or filing instruction information.
If you enter code
5
 in
Estimates - declaration for
2025
, enter the quarterly payments in these fields. These amounts are adjusted by the overpayment applied and print on the vouchers.
If you enter code
9
 in
Estimates - declaration for
2025
, enter the quarterly payments in these fields. These amounts aren't adjusted by the overpayment applied.
Enter any estimate payments already made toward the next year. These amounts and the applied overpayment subtract from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
If you enter code
8
, Use tax from Tax Projection Worksheet, in
Estimates - declaration for
2025
, select 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 select. To produce a specific refund amount, enter that amount in
Amount of refund desired
.
The number of estimate vouchers defaults to
4
. 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.
This field lets you enter rounding specifications for the estimated payments. The estimated payments can be rounded up to the nearest factor indicated. For example, if you want to round up each estimated payment to the nearest $10, enter
10
. If you leave this field blank, UltraTax CS automatically rounds each estimated payment up to the next dollar.
New clients and converted clients may benefit from global options. Select
Setup
,
1040 Individual
,
Louisiana
 tab, select
New Client Options
, and enter the rounding amount with which newly created and converted client returns calculate. The input screen field transfers the global amount to newly created and converted clients. The transferred amount may be changed in this field if necessary without being replaced by the global choice made in the
New Client Options
 window. This field is proforma'd from year to year; therefore, only newly created and converted clients are affected by global options.
Use this field to indicate in the filing instructions that the fourth quarter estimate is due by 12/31/20. A global default is available for all new clients for all state returns. Select
Setup
,
1040 Individual
,
Federal
 tab, select
New Client Options
, and enter
X
 in
Treat the 4 th quarter state estimate as due on December 31 st
.
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