Figure 4-A, Short Method—Illustrated (Ivy Fields)
Summary: This is an example of page 1 of Form 2210 (2010), Underpayment
of Estimated Tax by Individuals, Estates, and Trusts, for Ivy Fields. The
completed line items are:
- Under
Part I: Required Annual Payment
: -
-
1. Enter your 2010 tax after credits from Form 1040, line
55 (see instructions if not filing Form 1040)
field contains 13,044 -
2. Other taxes, including self-employment tax (see page 2
of the instructions)
field contains 8,902 -
3. Refundable credits. Enter the total of making work pay,
earned income credit, additional child tax credit, American opportunity credit
(Form 8863, line 14), first-time homebuyer credit (Form 5405, line 10), credit
for federal tax paid on fuels, adoption credit, refundable credit for prior year
minimum tax (Form 8801, line 27), and health coverage tax credit
field contains (400) -
4. Current year tax. Combine lines 1, 2 and 3. If less than
$1,000, you do not owe a penalty; do not file Form 2210
field contains 21,546 -
5. Multiply line 4 by 90% (.90)
field contains 19,391 -
6. Withholding taxes. Do not include any estimated tax payments
(see page 3 of the instructions)
field contains 1,600 -
7. Subtract line 6 from line 4. If less than $1,000, you do
not owe a penalty; do not file Form 2210
field contains 19,946 -
8. Maximum required annual payment based on prior year's tax
(see page 3 of the instructions).
field contains 12,400 -
9. Required annual payment. Enter the smaller of line 5 or
line 8
field contains 12,400
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