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.
See also: 1040 Oklahoma frequently asked questions
Overview
Use this screen to complete Form 504. If information transferred from UltraTax/1040 does not require additional data or coding, UltraTax/1040-OK shows it on the form only, not in the screen.
General Information
Enter X if you want UltraTax CS to calculate the extension, Form 504. To print the extension, choose File > Print Extensions. UltraTax CS enters the applicable due date in the Extended due date field when marking this field.
If an extension is printed by selecting File > Print Extensions, or an entry is made in the Calculate extension field, the extended due date automatically appears in this field. Otherwise, the date manually entered in this field is used as the extended due date in the filing instructions, and when calculating late filing penalties.
Each time you print the extension (via the File > Print Extensions option), UltraTax CS:
- calculates the extension payment amount and enters it in this field, and
- prints this amount on the main return, not on the extension.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. UltraTax CS then displays the new amount in black.
Notes
- To delete the overruled amount and restore the original calculated amount, right-click the field and choose Delete overrule.
- To confirm the accuracy of the overruled amount, right-click the field and choose Acknowledge overruled data. UltraTax CS then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to enter it manually.
- If desired, you can set a user preference to mark fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.
If you enter an amount here, UltraTax CS enters X in the Calculate extension field, completes the Extended due date field and uses the amount entered as the tax liability on the extension.
If you enter an amount here, UltraTax CS calculates the amount of total tax using the estimated payments and withholding entered, marks the Calculate extension field, completes the Extended due date field, and transfers the amount that you enter in the Extension payment actually made; reportable on main return field.
Enter the extended due date that applies to this return.
Enter the payment amount and the date of the payment. This information is used in the calculation of late filing payment penalties and interest, if applicable.