Preparing 1065 extensions

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Use this procedure to print federal extension forms for one client or for a batch of clients.

Notes

  • This procedure prints one copy of the extension following the government collation defined in the Return Collation dialog. If desired, you can modify this collation. For example, you can prevent the extension transmittal letter and extension filing instructions from printing with the extension by changing the print condition for the extension transmittal letter and extension filing instructions to Never in the government collation in the Return Collation dialog in Setup > 1065 Partnership.
  • UltraTax CS determines the amount due and previous payment amounts that print on the extension based on the tax information you enter.
  1. Choose File > Open Client to open the client for which you want to print an extension. If the client does not exist in the current-year application, proforma the prior-year client data or add a new client.

  2. If you want to print an extension without any tax amount or balance due, skip this step.

    To print an extension with a tax amount or balance due, do the following:

    1. If applicable, retrieve general ledger balances.
    2. Access other input screens as needed to enter the preliminary tax data that you want UltraTax CS to use to calculate the tax. Note that if you enter an amount in the Estimate of total tax liability (Force) or Balance due on extension (Force) fields in Scfreen Prnt or Screen 8804, UltraTax CS does the following:
      • prints the amount on Form 7004,
      • completes the Extended due date field, and
      • enters the amount due in the Amount paid with extension field.
  3. The client's name, address, EIN, and tax year-end print on the form.
  4. UltraTax CS assumes the extended due date is the fifteenth day of the ninth month after the year-end for both 1065 and 8804 returns. To use an extended due date other than the default date, you must enter the date in the Extended due date field in Screen Pmtor or Screen 8804.
  5. Choose File > Print Extensions.
  6. By default, UltraTax CS prints both the federal and state extensions. To print only the federal extension, click the Options button, and verify that only the Federal checkbox is marked.

    Note: If the security configuration allows for user-defined print options, you can set various print options for all extensions printed from this workstation.

  7. Click the Print button.

Notes

  • To print extensions for clients other than, or in addition to, the current client, click the Clients button in the Print Extensions dialog, and select the clients for whom extensions should print.
  • UltraTax CS defaults to the previous extension print selection, so you may need to reset your extension print options. If you are prompted that “The selected clients will not be printed because their entity does not support the extension selected” when you print or create an electronic extension, choose File > Print Extensions, click the Options button, click the Extension Print Options tab, and confirm that First extension is selected in the Which group box.
  • You should reset your extension print options to First extension after you print or create a second extension or Form 2350 (1040 only).

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