User's Manual - Drake Software

Estimated Taxes
Drake Software User’s Manual
Table 5-11: Estimate Codes in Drake
ES
Code
Description
T Generates estimate vouchers with payments rounded to nearest $10
F Generates estimate vouchers with payments rounded to nearest $25
H Generates estimate vouchers with payments rounded to nearest $100
All vouchers include the taxpayer’s SSN, name, and address.
Overriding
Voucher
Amounts
The program divides the estimate amounts equally among the four vouchers. To have
different payment amounts displayed on the vouchers, you must enter the amounts
manually in the Estimate Amt fields of the ES screen (shown in Figure 5-44).
NOTE
Use the ETA screen to enter estimate adjustments (rather than
overrides); see “Estimated Tax Adjustments,” following.
Estimated Tax Adjustments
Screen code: ETA
Use the Estimated Tax Adjustments screen if the taxpayer expects a significant
change in income the following year. If entries are made on this screen, the program
generates an estimated tax worksheet (WK_ES) that shows the calculated estimates.
See the ETA screen help for more information.
Applying 2012 Overpayment to 2013
To apply part of a 2012 overpayment to the 2013 estimate, enter the total overpayment
to apply to all estimates (item 1 in Figure 5-44) on the ES screen. The program applies
the overpayment according to the overpayment (OP) code selected (item 2 in
Figure 5-44; see “OP Codes,” following). To override the OP code selection, enter
amounts to be applied into the Overpayment fields for each voucher (item # 3 in
Figure 5-44).
Figure 5-44: Entering overpayment amounts
152 Tax Year 2012