How to generate Form 1040-ES estimate vouchers in Lacerte

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How do I generate Form 1040-ES estimate vouchers?

To generate Form 1040-ES estimate vouchers:

1. Go to Screen 7, 20YY Estimates/W-4, W-4P.
2. Locate the General Information section.
3. Click on the Estimate Options (Ctrl+T) [O] drop down menu.
4. Select the option for calculation you wish to use.
5. If using options 2-7, scroll down to the Federal Estimated Tax Worksheet section and enter any necessary adjustments for estimating next year's tax liability.

Estimates set to be paid electronically won't produce Form 1040-ES. Instead, Lacerte will generate an E-File Payment record for each withdrawal.

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How do I print blank 1040-ES vouchers?

1. Go to Screen 7, 20YY Estimated Tax.
2. In the General Information section, locate the Estimate options dropdown.
3. Select option 8=Print blank estimates.

This option allows you to print blank voucher forms so that you or your client can manually write an amount on them. It removes the "Do not file" watermark that typically prints on blank forms, and produces a 2D barcode so that the mailed vouchers can be processed by the IRS.

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How do I force the 1040-ES when it's not required?

1. Go to Screen 7, 20YY Estimates (1040-ES, W-4, W-4P).
2. Scroll down to the Overrides section.
3. Enter the applicable quarterly amounts. Don't leave any quarter blank; instead, enter -1 for any quarter you want to suppress.
   1. 1st quarter [O]
   2. 2nd quarter [O]
   3. 3rd quarter [O]
   4. 4th quarter [O]
4. Enter the total amount for all quarters in 20YY estimated tax [O].

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Who needs to pay estimated taxes?

In most cases, your client must pay estimated tax throughout the year if both of the following apply:

1. After withholding and refundable credits, they still expect to owe $1,000 or more in tax next year.
2. You expect their withholding and refundable credits to be less than the smaller of:
   • 90% of the tax on next year's return, or
   • 100% of the tax on this year's return.

High income taxpayers and farmers are subject to different rules. By default, Lacerte will generate estimates for returns that meet any of these conditions.

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