Entering a state prior-year overpayment applied and a state tax refund (1041)

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Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to transmit e-files from CS Connect. Find out more.

When you enter a state prior-year overpayment for a client, UltraTax CS includes the amount as a deduction on Form 1041, Page 1, line 11 and uses the amount on the state return as a payment toward the current tax. To enter a state prior-year overpayment applied and a state tax refund, do the following:

  1. In the client's return, open Screen StPmt in the Payments folder.
  2. Enter the state prior-year overpayment information in a section in the input screen.

    Note: If you used UltraTax CS to prepare this return in the prior year, the application automatically proformas the overpayment applied to Screen StPmt.

  3. Open Screen Income in the Income folder.

    Note: If you used UltraTax CS to prepare this return in the prior year, the application automatically proformas the total amount of the state tax overpayment to Screen Income.

  4. Enter the total amount of the state tax overpayment (not just the portion applied to the next year) as other income in the statement dialog for the Other income field.
  5. Enter a postal code in the Postal Code column in the statement dialog.
  6. Enter code 2 or 5 in the State Use column in the statement dialog.
  7. Click Done to close the statement dialog.

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