Cx owes $36 to the FED. Why is Pro Series printing up 1040-ES totally $8552? It just confusing the clients and me, too.

[abctax55]

1)  What's a Cx?

2) Did they have estimates paid for 2021 (even tho they now only owe $ 36)

3) 110% rule depending on income.

[chapguy19]

Cx is short for client.

Did not pay estimates.  All taxes paid were through their W-2.

110% doesn't apply here since Pro Series doesn't know what their tax liability was last year.  This is my first year with them.

[Jim-from-Ohio]

check the box to not have estimated vouchers print on the 1040 ES Wks

[TaxGuyBill]

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@chapguy19 wrote:

110% doesn't apply here since Pro Series doesn't know what their tax liability was last year.  This is my first year with them.

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110% rule means that the 2021 tax return is used for the 2022 Estimated Payments.  I suspect that is why it is happening.

[abctax55]

https://www.irs.gov/newsroom/estimated-taxes-for-individuals

What is the AGI?  And the computation is based on this year's info... which PS must have the return worked up to the point of knowing your *Cx* owes $ 36.

Perhaps you've selected the 110% option (I assume PS has that, Lacerte does) ?

[chapguy19]

Where is the box to not have the 1040-ES printed.

It's not on the 1040-ES.

Thanks,

Christopher

[chapguy19]

I've never seen the 110% option in Pro Series.

AGI, Line 9, is $375503.

[chapguy19]

How do I turn off the 110% rule in ProSeries?

Thanks,

C

[abctax55]

I can't help with the software issue - I use Lacerte.

But be careful "turning it off" - discuss with your client.  IF they have a penalty for not doing 110% when the 2022 return is done - they'll likely blame you.   Been there with a client two days ago; I had to remind him that HE chose the smaller amounts after the rules had been explained to him this time last year.

[TaxGuyBill · Accepted solution]

There is an Estimated Tax Worksheet, and at the top it gives you various options for generating 1040ES's.

But as was mentioned, you may want to give them to the taxpayer and explain how the 110% thing works, so the taxpayer can make the decision for what to do.