New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

How do I apply a portion of an overpayment to next year's estimated tax when there is no estimated tax due?

Answer

To apply a portion of an overpayment to next year's estimated tax when there is no estimated tax due:

1. In the 2018 Overpayment Application section of Screen Est, enter 7 or 8 in the Application of 2018 overpayment field.
2. If using code 8, enter the amount you want applied to next year's estimate in the Amount for code #5 or #8 field. Mark the With code #7 or #8, do not calculate estimates checkbox.
3. In the 2019 Estimates - Calculated section, leave the Form 1040ES - 2019 declaration field blank.

Related topic: Estimated taxes FAQs (1040)

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