UltraTax CS
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 generate separate estimated tax payments for a taxpayer and spouse?
Answer
In order to accurately determine the allocation of total tax liability between the taxpayer and spouse, you must run the Filing Status Optimization utility to create separate taxpayer and spouse returns. Separate estimated tax payment vouchers can be printed from those returns. Make any adjustments necessary to account for the change in filing status in Screen TPW, and then select 2023 declaration code 8 in Screen Est. The sum of the taxpayer and spouse voucher amounts can then be entered into the joint return in Screen Est in the 2023 Estimates paid field, for each quarter's payments. Use Form 1040ES - 2023 declaration code of 7 to suppress vouchers in the joint return and mark the Suppress printing of estimate filing instruction with code #7 checkbox. This will proforma the expected total estimated tax payments to the 2023 joint return without generating any 1040-ES vouchers in the 2022 joint return.
Note: 1040-ES vouchers can be printed with only the taxpayer or spouse name from a married filing joint return. On Screen Est, select T or S in the Print name on 2023 1040-ES vouchers field to print the 1040-ES estimated tax vouchers for a married filing joint return with only the taxpayer or spouse name instead of both names. The application does not make any calculations in the joint return to determine separate tax liability, however, you can make adjustments in the Tax Projection Worksheet and you can use Form 1040-ES - 2023 declaration code 8.
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