1040-US: Balance due for estimated taxes is displaying on the Tax Projection Worksheet

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Why is there a balance due on the Tax Projection Worksheet when calculating estimates using the Tax Projection Worksheet liability amounts?


Estimated taxes do not include the Health Care: Individual Responsibility penalty. The IRS assesses and collects this penalty in the same manner as an assessable penalty under subchapter B of chapter 68 which is not considered a return-related penalty. By default, UltraTax/1040 does not include any individual responsibility penalty amounts in the estimated liability if you use code 8 - Use liability from Tax Projection Worksheet in the Form 1040-ES – 2017 declaration field on Screen Est in the Payments folder.

To include the individual responsibility penalty in next year’s estimated taxes using the Tax Projection Worksheet, select code C - Desired refund (enter amount) in the Additional coding for code #8 fieldview on Screen Est in the Payments folder. Then, enter the amount of the individual responsibility penalty in the Amount of refund desired field.

If you do not want an individual responsibility penalty to calculate for next year, enter 1 (Yes) in the Entire family will be covered for 2018 with minimum essential health care coverage field on Screen TPW-ACA in the Review folder.

Related topic: Estimated taxes FAQs

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