Consistently seeing 2021 CO estimates calculating incorrectly on CO DR0105 - seems to be using the 2020 amount overpaid instead of the 2020 tax owed to calculate estimates. Can't really tell because no estimate worksheets are provided for CO. I have several returns waiting for correct treatment of the estimates.
When will there be a fix?
It's not the settings. One example, I have a trust that owed $4600 dollars for 2020 and overpaid by $8000 with last year's estimates. With option 1, this return is applying $341 to 2021 tax and calculating estimates that total $1023 and refunding $8000. With option 4, it applies $1,364 to 2021 and then refunds the $7000 balance. All of my fiduciary returns that require CO estimates are doing this.
I just called Lacerte and they want to waste my time with a calculation challenge rather than take the return and review it themselves to figure out what is wrong then fix it.
I find it odd that Lacerte employees will respond to other posts but not something like this one is reporting...
I was told a supervisor would call me today but not heard from anyone yet.
Meanwhile I have to manually calculate and override the estimates for the CO trusts that are calculating incorrectly.