How do I generate estimate tax Form 1040-ES in a 1040 return using interview forms?
The program will prepare an estimate if necessary based on the amounts in the return.
To alter the estimate preparation, do the following:
- Go to Federal Interview Form T-1 - Form 1040-ES.
- In Boxes 30-43 - Estimate Preparation Options, enter information as applicable.
- In Box 30 - Estimate code (see help), use the lookup feature (double-click or click F4) to select the appropriate code (see below).
- In Box 41 - Application of overpayment code (see help), use the lookup feature (double-click or click F4) to select the appropriate code.
- Note: If the application of overpayment code is selected as 6 - Leave application of overpayment open, the return will not produce letters properly as it shows the return as incomplete.
- In Boxes 50-73 - Estimate Preparation Overrides and Adjustments, enter information as applicable.
- In Boxes 30-43 - Estimate Preparation Options, enter information as applicable.
- Calculate the return.
| Code | Description | Use |
|---|---|---|
| 1 | Prevent an estimate | This option suppresses the Form 1040-ES and prevents the estimate even when one is necessary. |
| 2 | Mandatory estimate | This option forces preparation and printing of an estimate even if one is not necessary. |
| 3 | Print only name, address, and social security number | This option the Form 1040-ES to produce blank estimates that have just the name, address, and SSN information displaying. |
Notes:
| ||
| 4 | Prepare an estimate if liability is greater than $0 | This option prepares the estimate when estimated tax is less than $1,000 but greater than zero. |
To see this solution using worksheet view, see out solution on how to generate Form 1040-ES in a 1040 return using worksheet view.
| Solution Id | 000178605/sw17822 |
|---|---|
| Direct Link |
