Form 990-PF/990-T Estimates in Lacerte

The following articles are the top questions referring to Form 990-W, Estimates.

In Screen 13 Estimates under the 2024 Private Foundation Estimated Tax section, enter the organization’s 2024 estimated tax payments in the applicable input fields. These amounts are included on Form 990-PF, Part VI, line 6a; or Form 990-T, Part III, Tax and Payments.

Under the 2024 Unrelated Business Estimated Tax - 990-T section, the proforma program ages the prior year’s calculated voucher amounts to the “Voucher amount (memo)” fields.  If the taxpayer paid that amount with each of their corresponding estimated tax vouchers, check the box and the program will use the entries in “Voucher amount (memo)” fields to figure tax paid, and underpayment penalty if applicable.  If the box is checked, and an entry is present in an “Amount paid” field, the program will use the entry in “Amount paid.”  The program will not accept a –1 entry in the “Amount paid” fields.

Dates may be entered in conjunction with this check for amounts that were not paid by their due date.  Additional estimated tax payments may also be entered without affecting this feature.