Overpayment NYS IT-205

8 replies
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Hi,

I have an overpayment on a 2019 NYS IT-205 which I want to credit, but no matter how I input the 2020 estimate fields it wants to refund the entire amount. The return is a fiscal year of 4/4/19 - 3/31/20

Thanks!

Lacerte Tax

This topic has been closed for replies.

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frank550Answer

Level 3

So problem solved, here is what support had me do.

This is Destiny with Lacerte Support this email is regarding your call today about New York 1041 overpayment of tax not applying to next years tax. This is what I have found, due to this being an estate return and estates generally subject to estimated tax payments if the estate has not been open for over 2 years, that is the reason this is not working for the state but is in federals case; there is a way for you to see this is the issue as well: go to screen 2.1 miscellaneous Information and look for the override field 1=decedents estate open for over 2 years, 2=leave question blank(O) and enter a 1 this allows the overpayment to be applied to next years tax.

George4Tacks

Level 15

Screen 12 > 2020 Estimated Tax > State column, first item Apply overpayment.... >Select 5, 6 or 7 depending on amounts of refund and 2020 estimates.

Answers are easy. Questions are hard!

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frank550Author

Level 3

It should be so easy. The issue is when you change to a fiscal year. I can all the steps mentioned and get the result I want, but when I change the return to a fiscal year ending 03 it will only refund the overpayment.

George4Tacks

Level 15

Screen 1 . Change FYE from 12 to 3 makes no change. Did you also make entries in Screen 2 for a part year?

Answers are easy. Questions are hard!

abctax55

Level 15

I don't speak "New York", but when I've had similar issues with CA, I've sometimes solved the problem by plugging in a big amount in the *next* year tax liability to fool the system into thinking estimates are necessary.

Good luck

HumanKind... Be Both

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frank550Author

Level 3

Seems CA solution stays in CA, thanks for trying. I'm on to support.

F

frank550AuthorAnswer

Level 3

So problem solved, here is what support had me do.

This is Destiny with Lacerte Support this email is regarding your call today about New York 1041 overpayment of tax not applying to next years tax. This is what I have found, due to this being an estate return and estates generally subject to estimated tax payments if the estate has not been open for over 2 years, that is the reason this is not working for the state but is in federals case; there is a way for you to see this is the issue as well: go to screen 2.1 miscellaneous Information and look for the override field 1=decedents estate open for over 2 years, 2=leave question blank(O) and enter a 1 this allows the overpayment to be applied to next years tax.

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