Applying an overpayment portion to next year's estimated tax when there is no estimated tax due (1120)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

To apply a portion of an overpayment to next year's estimated tax when there is no estimated tax due, complete the following steps.

  1. In the Overpayment Application section in Screen Est, enter 5 in the Application of current year overpayment field.
  2. Enter the amount to apply to next year's estimates in the Amount for code #5 or #8 field.
  3. In the Estimates section, enter 5 in the Form 1120W-declaration for next year field.
  4. Enter the same applied overpayment amount entered previously in the Amounts for code #5, #9 or next year estimates paid: 1st payment field.

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