1120-US: Preventing estimates from printing when not required (FAQ)

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Question

Is there a way to prevent UltraTax CS from automatically printing estimates for the next year if they are not required?

Answer

Yes. UltraTax CS automatically prints estimates if there is an overpayment applied and the overpayment does not cover the current-year tax. If the corporation's income is expected to change in the next year so that estimates are not required, enter 2 in the Form 1120-W - declaration for next year field in Screen Est. Then, enter a negative adjustment in the Amount for code #2 field for the difference between the current-year liability and next year's expected liability.

Related topic: 1120-US: Estimates FAQs

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