ftb estimates calculated incorrectly

[TMC]

Lacerte is not calculating estimates properly for taxpayers with income over $150,000.  The calculation should be 110% of current year tax.  I have had multiple clients get penalties due to these incorrect calculations, please fix this asap!

[George4Tacks]

The default is found in the State column for estimates as 1 = 100% of 2025 tax (2024 rates) for the current year of Lacerte. You should be changing that for each of clients affected with a code of 6. IF you had selected 6 for the Federal then the program would have done the calculation you are now requesting. 

You can also go to Settings > Options > California Options > adjust to what you feel the program should use for your client base. 

[abctax55]

George... you are so, so polite 😉  

[TMC]

Thank you for this info!  I know there are override options but I have never had to use them before and Lacerte has always calculated 100%/110% based on the AGI.  Now I see there is a settings option in the CA settings for 100%/110%?  Maybe mine got switched to 100% somehow? Seems unlikely, but it also seems unlikely that it has been at 100% for a long time and I've never had an issue.  Anyhow, thank you for this info! 

[George4Tacks]

I am having a good day ;-}

[abctax55]

I am very happy to hear that....