Form 1040ES 2010 Estimated Tax Worksheet
Summary: This is an example of the worksheet used to determine the amount of estimated taxes the taxpayer needs to pay. The line items to be completed are:

1. Adjusted gross income you expect in 2010 (see instructions on page 6)
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2. If you plan to itemize deductions, enter the estimated total of your itemized deductions. If you do not plan to itemize deductions, enter your standard deduction from page 2
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3. Subtract line 2 from line 1
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4. Exemptions. Multiply $3,650 by the number of personal exemptions.
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5. Subtract line 4 from line 3
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6. Tax. Figure your tax on the amount on line 5 by using the 2010 Tax Rate Schedules on page 8. Caution: If you will have qualified dividends or a net capital gain, or expect to claim the foreign earned income exclusion or housing exclusion, see chapter 2 of Pub. 505 to figure the tax
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7. Alternative minimum tax from Form 6251 or the Alternative Minimum Tax Worksheet in the Form 1040A instructions.
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8. Add lines 6 and 7. Add to this amount any other taxes you expect to include in the total on Form 1040, line 44, or Form 1040A, line 28
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9. Credits (see instructions on page 6). Do not include any income tax withholding on this line
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10. Subtract line 9 from line 8. If zero or less, enter 0
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11. Selfemployment tax (see instructions on page 6). Estimate of 2010 net earnings from selfemployment $(blank text field); if $106,400 or less, multiply the amount by 15.3%; if more than $106,400, multiply the amount by 2.9%, add $13,243.20 to the result, and enter the total. Caution: If you also have wages subject to social security tax or the 6.2% portion of tier 1 Railroad Retirement tax, see chapter 2 of Pub. 505 to figure the amount to enter
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12. Other taxes (see instructions on page 6)
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13a. Add lines 10 through 12
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13b. Earned income credit, additional child tax credit, making work pay credit, refundable education credit, and credits from Forms 4136, 5405, 8801 (line 29), and 8885
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13c. Total 2010 estimated tax. Subtract line 13b from line 13a. If zero or less, enter 0
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14a. Multiply line 13c by 90% (66 2/3% for farmers and fishermen)
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14b. Enter the tax shown on your 2009 tax return (see instructions on page 6) (110% of that amount if you are not a farmer or fisherman and the adjusted gross income shown on that return is more than $150,000 or, if married filing separately for 2010, more than $75,000)
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14c. Required annual payment to avoid a penalty. Enter the smaller of line 14a or 14b. Caution: Generally, if you do not prepay (through income tax withholding and estimated tax payments) at least the amount on line 14c, you may owe a penalty for not paying enough estimated tax. To avoid a penalty, make sure your estimate on line 13c is as accurate as possible. Even if you pay the required annual payment, you may still owe tax when you file your return. If you prefer, you can pay the amount shown on line 13c. For details, see chapter 2 of Pub. 505.
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15. Income tax withheld and estimated to be withheld during 2010 (including income tax withholding on pensions, annuities, certain deferred income, etcetera)
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16a. Subtract line 15 from line 14c. Is the result zero or less? If yes, stop here. You are not required to make estimated tax payments. If no, go to line 16b
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16b. Subtract line 15 from line 13c. Is the result less than $1,000? If yes, stop here. You are not required to make estimated tax payments. If no, go to line 17 to figure your required payment.

17. If the first payment you are required to make is due April 15, 2010, enter 1/4 of line 16a (minus any 2009 overpayment that you are applying to this installment) here, and on your estimated tax payment voucher or vouchers, if you are paying by check or money order. (Note: Household employers, see instructions on page 6.)
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