Publication 505
taxmap/pubs/p505-016.htm#en_us_publink10007439The following examples show how to figure estimated tax payments
under the regular installment method and under the annualized income installment
method.
taxmap/pubs/p505-016.htm#en_us_publink10007440Early in 2011, Anne and Larry Jones figure their estimated tax
payments for the year. They expect to receive the following income during 2011.
| Larry's salary | $39,900 |
| State tax refund (they itemized deductions in 2010) | 600 |
| Anne's net profit from self-employment | 40,100 |
| Net rental income | 6,205 |
| Interest income | 2,784 |
| Total | $89,589 |
| | |
They also use the following expected items to figure their 2011
estimated tax.
| Adjustment to income for IRA contributions | $ 1,000 |
| Itemized deductions | 17,825 |
| Deduction for exemptions ($3,700 × 2) | 7,400 |
| Withholding | 3,972 |
The Joneses plan to file a joint return. They use the 2011 Estimated
Tax Worksheet included in Form 1040-ES to figure their estimated tax payments.
See their filled-in worksheet
(Figure 2-D) on page 29.
taxmap/pubs/p505-016.htm#en_us_publink10007441Anne can claim an income tax deduction for part of her self-employment
tax as an adjustment to income. So before the Joneses figure their expected AGI,
they figure Anne's expected self-employment tax. See their filled-in
Worksheet 2-2 on this page.
taxmap/pubs/p505-016.htm#en_us_publink1000248761
Worksheet 2-2. 2011 Estimated Tax Worksheet—Lines
1 and 11
Expected Self-Employment Tax and Deduction
—Illustrated (Anne Jones)
| 1. | a. | Enter your expected income and profits subject to self-employment
tax* | 1a. | $40,100 | | | | | b. | If you will have farm income and also receive social
security retirement or disability benefits, enter your expected Conservation
Reserve Program payments that will be included on Schedule F (Form 1040) or
listed on Schedule K-1 (Form 1065)
| 1b. | | | | | 2. | | Subtract line 1b from line 1a | 2. | 40,100 | | | | 3. | | Multiply line 2 by 92.35% (.9235). If less than $400,
do not
complete this worksheet; you will not owe self-employment tax on your expected
net earnings from self-employment
| 3. | 37,032 | | | | 4. | | Multiply line 3 by 2.9% (.029) | 4. | 1,074 | | 5. | | Maximum income subject to social security tax | 5. | $106,800 | | | | 6. | | Enter your expected wages (if subject to social security
tax or the 4.2% portion of tier 1 railroad retirement tax) | 6. | -0- | | | | 7. | | Subtract line 6 from line 5 | 7. | 106,800 | | | | | | Note.
If line 7 is zero or less, enter -0- on line 9 and skip
to line 10. | | | | | | 8. | | Enter the
smaller
of line 3 or line 7
| 8. | 37,032 | | | | 9. | | Multiply line 8 by 10.4% (.104) | 9. | 3,851 | | 10. | | Add line 4 and line 9. Enter the result here and on line
11 of your 2011 Estimated Tax Worksheet (or line 17 of the Annualized Estimated
Tax Worksheet (Worksheet 2-6))
| 10. | $ 4,925 | | 11. | | Multiply line 4 by 50% (.50) | 11. | 537 | | | | 12. | | Multiply line 9 by 59.6% (.596) | 12. | 2,295 | | | | 13. | | Add lines 11 and 12. This is your expected deduction
for self-employment tax on Form 1040, line 27. Subtract this amount when
figuring your expected AGI on line 1 of your 2011 Estimated Tax Worksheet (or
Annualized Estimated Tax Worksheet (Worksheet 2-6))
| 13. | $ 2,832 | | |
| *Your net profit from self-employment is found on Schedule
C, line 31; Schedule C-EZ, line 3; Schedule F, line 36; Schedule K-1 (Form
1065), box 14, code A; and Schedule K-1 (Form 1065-B), box 9, code J1.
|
|
On line 11 of their 2011 Estimated Tax Worksheet, the Joneses
enter $4,925 self-employment tax. They subtract their allowable deduction,
$2,832, and their $1,000 adjustment for IRA contributions from their $89,589
total income to find their expected AGI, $85,757. They enter that amount on line
1 of the worksheet.
taxmap/pubs/p505-016.htm#en_us_publink10007442The Joneses use
Worksheet 2-3
(see page 37) to figure their standard deduction, $11,600. This is smaller than
their expected itemized deductions, so they enter $17,825 on line 2 of the
worksheet. They subtract the amount on line 2 from the amount on line 1 and
enter the result, $67,932, on line 3. They enter their deduction for exemptions,
$7,400, on line 4. After subtracting this amount, their expected taxable income
on line 5 is $60,532.
The Joneses use the
2011 Tax Rate Schedule
Y-1 on page 34 to figure their expected income tax, and enter $8,230 on line 6
of the worksheet. They do not expect to owe any other taxes that would be
entered on lines 7 or 12. They do not have any other credits that would be
entered on lines 9 or 13b.
The Joneses' total estimated tax on line 13c, after adding Anne's
self-employment tax from line 11, is $13,155.
taxmap/pubs/p505-016.htm#en_us_publink10007444The Joneses multiply their total estimated tax by 90% and enter
$11,840 on line 14a of the worksheet. They enter their 2010 tax, $13,123, on
line 14b. Their required annual payment on line 14c is the smaller amount,
$11,840.
They enter Larry's expected withholding, $3,972, on line 15 and
subtract it from their required annual payment. Their estimated tax on line 16a
is $7,868.
After completing lines 16a and 16b, the Joneses find they are
required to pay estimated tax. This is because their estimated withholding (line
15) is:
- Less than their "required annual payment to avoid a penalty"
(line 14c), and
- Not within $1,000 of their "total 2011 estimated tax" (line
13c).
The Joneses must pay their first estimated tax payment by April
18, 2011. They enter one-fourth of their estimated tax (line 16a), $2,296, on
line 17 of the worksheet and on their Form 1040-ES payment voucher that shows
"Due April 18, 2011." They mail the voucher with their payment to the address
shown for their area in the Form 1040-ES instructions and record the payment on
the Record of Estimated Tax Payments in the instructions.
If their estimated tax does not change during the year, the Joneses
also will pay $2,296 estimated tax by June 15 and September 15, 2011, and
January 17, 2012.
taxmap/pubs/p505-016.htm#en_us_publink10007446The facts are the same as in
Example 1—Regular Installment Method
on the previous page, except that the Joneses do not expect to receive their
income evenly throughout the year. Anne expects to receive the largest portion
of her self-employment income during the last few months of the year, and the
Joneses' rental income is from a vacation home rented only from May to
mid-October.
After completing their 2011 Estimated Tax Worksheet, the Joneses
decide to use the annualized income installment method to see if they can pay
less than $2,296 estimated tax for one or more payment periods. They complete
the 2011 Annualized Estimated Tax Worksheet (Worksheet 2-6) in this chapter. See
their filled-in worksheet (
Figure 2-E) on pages 30 and 31.
On April 1, 2011, the Joneses complete the first column of the
worksheet for the period January 1 through March 31. They had the following
income for the period.
| Larry's salary | $ 9,975 |
| State tax refund | 600 |
| Anne's net profit from self-employment | 3,000 |
| Net rental income | -0- |
| Interest income | 696 |
| Total | $14,271 |
| | |
They also take into account the following items for the period.
| Adjustment to income for IRA contributions | $ 150 |
| Itemized deductions | 2,375 |
| Withholding | 993 |
Before the Joneses figure their AGI for the period, they first
figure Anne's self-employment tax in Section B, and then her adjustment to
income for self-employment tax.
On line 33 of Section B, they enter $2,771, which is Anne's net
profit from self-employment for the period ($3,000 x .9235). The prorated social
security tax limit is preprinted on line 34. She has no social security wages,
so they enter zero on line 35, and $26,700 on line 36. Anne's annualized social
security tax on line 38 is $1,153 ($2,771 × .416). Her annualized Medicare
tax on line 40 is $321 ($2,771 × .116). Her total annualized
self-employment tax on line 41 is $1,474. They enter that amount on line 17 of
Section A.
The Joneses figure their adjustment to income for Anne's self-employment
tax on lines 42 through 46 (Section B). That amount is $212 ($848 ÷ 4).
They subtract that amount and their $150 IRA contributions from their $14,271
total income and enter their AGI for the period, $13,909, on line 1 of Section
A. They multiply that amount by 4 and enter their annualized AGI, $55,636, on
line 3.
taxmap/pubs/p505-016.htm#en_us_publink10007449The Joneses figure their annualized itemized deductions ($2,375
× 4) on lines 4 through 6 of Section A. Because the result is smaller than
their standard deduction, they enter their $11,600 standard deduction on line 8.
After subtracting that amount and their $7,400 deduction for exemptions, the
Joneses' annualized taxable income on line 11 is $36,636.
taxmap/pubs/p505-016.htm#en_us_publink10007450The Joneses use the
2011 Tax Rate Schedule
Y-1 on page 34 to figure their annualized income tax, $4,645, which they enter
on line 12 of Section A.
They use their 2010 tax return to see what credits may be included
on line 15. These are nonrefundable credits on lines 47 through 53 of Form 1040
or lines 29 through 33 if you filed Form 1040A. They have no credits listed in
this section of their tax return and do not think they will have any in 2011, so
they leave line 15 blank.
They have no other taxes for the period that would be entered
on line 18, so they leave that line blank and enter $6,119 ($4,645 + $1,474) on
line 19.
Next, the Joneses look at refundable credits on line 20. The
credits on the 2010 Form 1040 that will be available in 2011 are those on lines
64a, 65, 66, 67, and 70, and on Forms 8801, 8839, and 8885. They do not
anticipate any refundable credits, so they leave that line blank and enter
$6,119 on line 21.
taxmap/pubs/p505-016.htm#en_us_publink10007451The Joneses' annualized income installment on lines 23 and 25
of Section A is $1,377 ($6,119 × 22.5%). On lines 26 and 28 they enter
$2,960, one-fourth of their $11,840 required annual payment (line 14c of their
2011 Estimated Tax Worksheet). Because their annualized income installment
($1,377) is smaller, they enter that amount on lines 29 and 30.
Larry's total expected withholding for the year is $3,972. The
Joneses can treat 3 months of that amount ($3,972 ÷ 12 = $331 × 3
months = $993) as paid on April 18, or they can use Larry's actual withholding
for the period. The Joneses enter $993 on line 30.
On line 31, the Joneses' required estimated tax payment for the
period under the annualized income installment method is $384 ($1,377 −
$993). They will send in an estimated tax payment of $384 for the first period.
taxmap/pubs/p505-016.htm#en_us_publink10007452After the end of each remaining payment period, the Joneses complete
the column of the worksheet for that period (from the beginning of the year
through the end of that payment period) in the same way they did for the first
period. They had the following income for each period.
| | Second
Period | Third
Period | Fourth
Period |
| | Jan. 1-
May 31
| Jan. 1-
Aug. 31
| Jan. 1-
Dec. 31
|
| Larry's salary | $16,625 | $26,600 | $39,900 |
| State tax refund | 600 | 600 | 600 |
| Anne's net profit from self-employment | 6,000 | 16,000 | 40,100 |
| Net rental income | 365 | 4,745 | 6,205 |
| Interest income | 1,160 | 1,856 | 2,784
|
| Total | $24,750 | $49,801 | $89,589 |
| | | | |
They also take into account the following items for each period.
| | Second
Period | Third
Period | Fourth
Period |
| | Jan. 1-
May 31
| Jan. 1-
Aug. 31 | Jan. 1-
Dec. 31 |
| Adjustment to income for IRA contributions | $ 250 | $ 400 | $ 1,000 |
| Itemized deductions | 4,750 | 9,250 | 17,825 |
| Withholding | 1,655 | 2,648 | 3,972 |
For the second period, as for the first, the annualized income
installment method allows the Joneses to pay less than their required payment
under the regular installment method. They make up the difference in the third
and fourth periods when their income is higher.
Because the Joneses are using the annualized income installment
method, they must file Form 2210 with their tax return for 2011.
taxmap/pubs/p505-016.htm#en_us_publink1000248718taxmap/pubs/p505-016.htm#en_us_publink1000248741
Figure 2-E. Annualized Income Installment Method—Illustrated Example
2
(Anne and Larry Jones)
| Section A (For Figuring Your Annualized Estimated Tax Payments)—Complete each column after end of period shown.
|
Estates and trusts: Use the following ending dates in columns
(a) through (d):
2/28/2011, 4/30/2011, 7/31/2011, 11/30/2011.
| (a)
1/1/11-3/31/11
| (b)
1/1/11-5/31/11
| (c)
1/1/11-8/31/11
| (d)
1/1/11-12/31/11
|
| 1 | Adjusted gross income (AGI) for each period (see instructions).
Estates and trusts, enter your taxable income without your exemption for each
period. Self-employed: Complete Section B first
| 1 | 13,909 | 24,076 | 48,271 | 85,756 |
| 2 | Annualization amounts. (Estates and trusts, see instructions) | 2 | 4 | 2.4 | 1.5 | 1 |
| 3 | Annualized income. Multiply line 1 by line 2 | 3 | 55,636 | 57,782 | 72,407 | 85,756 |
| 4 | If you itemize, enter itemized deductions for period shown
in the column headings (see instructions). All others, enter -0- and skip to
line 7.
Exception:
Estates and trusts, skip to line 9 and enter amount from
line 3
| 4 | 2,375 | 4,750 | 9,250 | 17,825 |
| 5 | Annualization amounts | 5 | 4 | 2.4 | 1.5 | 1 |
| 6 | Multiply line 4 by line 5 (see instructions) | 6 | 9,500 | 11,400 | 13,875 | 17,825 |
| 7 | Standard deduction from Worksheet 2-3 | 7 | 11,600 | 11,600 | 11,600 | 11,600 |
| 8 | Enter the
larger
of line 6 or line 7
| 8 | 11,600 | 11,600 | 13,875 | 17,825 |
| 9 | Subtract line 8 from line 3 | 9 | 44,036 | 46,182 | 58,532 | 67,931 |
| 10 | In each column, multiply $3,700 by your total expected number
of exemptions (see instructions). (Estates and trusts, see instructions) | 10 | 7,400 | 7,400 | 7,400 | 7,400 |
| 11 | Subtract line 10 from line 9. If zero or less, enter -0- | 11 | 36,636 | 38,782 | 51,132 | 60,531 |
| 12 | Figure your tax on the amount on line 11 (see instructions) | 12 | 4,645 | 4,967 | 6,820 | 8,230 |
| 13 | For each period, enter any tax from Forms 8814, 4972, and
6251. Also include any recapture of education credits (see instructions) | 13 | | | | |
| 14 | Add lines 12 and 13 | 14 | 4,645 | 4,967 | 6,820 | 8,230 |
| 15 | Enter nonrefundable credits for each period (see instructions) | 15 | | | | |
| 16 | Subtract line 15 from line 14 | 16 | 4,645 | 4,967 | 6,820 | 8,230 |
| 17 | Self-employment tax from line 41 of Section B | 17 | 1,474 | 1,796 | 2,948 | 4,925 |
| 18 | Enter other taxes for each period (see instructions) | 18 | | | | |
| 19 | Total tax. Add lines 16, 17, and 18 | 19 | 6,119 | 6,736 | 9,768 | 13,155 |
| 20 | Enter refundable credits for each period (see instructions
for type of credits allowed).
Do not
include any income tax withholding on this line
| 20 | | | | |
| 21 | Subtract line 20 from line 19. If zero or less, enter -0- | 21 | 6,119 | 6,736 | 9,768 | 13,155 |
| 22 | Applicable percentage | 22 | 22.5% | 45% | 67.5% | 90% |
| 23 | Multiply line 21 by line 22 | 23 | 1,377 | 3,031 | 6,593 | 11,840 |
| | Complete lines 24 through 29 of one column before going
to line 24 of the next column. | | | | | |
| 24 | Enter the total of the amounts in all previous columns of
line 29 | 24 | | 1,377 | 3,031 | 6,593 |
| 25 | Annualized income installment. Subtract line 24 from line
23. If zero or less, enter -0- | 25 | 1,377 | 1,654 | 3,562 | 5,247 |
| 26 | Enter 25% (.25) of line 14c of the Form 1040-ES Estimated
Tax Worksheet in each column | 26 | 2,960 | 2,960 | 2,960 | 2,960 |
| 27 | Subtract line 29 of the previous column from line 28 of that
column | 27 | | 1,583 | 2,889 | 2,287 |
| 28 | Add lines 26 and 27 | 28 | 2,960 | 4,543 | 5,849 | 5,247 |
| 29 | Enter the
smaller of line 25 or line 28 (see instructions)
| 29 | 1,377 | 1,654 | 3,562 | 5,247 |
| 30 | Total required payments for the period. Add lines 24 and
29 | 30 | 1,377 | 3,031 | 6,522 | 11,840 |
| 31 | Estimated tax payments made (line 32 of all previous columns)
plus tax withholding through the due date for the period (see instructions)
| 31 | 993 | 2,039 | 4,024 | 7,846 |
| 32 | Estimated tax payment required by the next due date. Subtract
line 31 from line 30 and enter the result (but not less than zero) here and on
your payment voucher
| 32 | 384 | 992 | 2,498 | 3,994 |
taxmap/pubs/p505-016.htm#en_us_publink1000248762
Figure 2-E. Annualized Income Installment Method—Illustrated
Example 2
(Anne and Larry Jones) (Continued)
Worksheet 2-6. 2011 Annualized Estimated Tax Worksheet (Continued)
| Section B (For Figuring Your Annualized Estimated Self-Employment
Tax)—Complete each column after end of period shown. | | (Form 1040 filers only) | (a)
1/1/11-3/31/11
| (b)
1/1/11-5/31/11
| (c)
1/1/11-8/31/11
| (d)
1/1/11-12/31/11
| | 33 | Net earnings from self-employment for the period (see
instructions) | 33 | 2,771 | 5,541 | 14,776 | 37,032 | | 34 | Prorated social security tax limit | 34 | $26,700 | $44,500 | $71,200 | $106,800 | | 35 | Enter actual wages for the period subject to social security
tax or the 4.2% portion of tier 1 railroad retirement tax.
Exception: If you file Form 4137 or Form 8919, see instructions
| 35 | 0 | 0 | 0 | 0 | | 36 | Subtract line 35 from line 34. If zero or less, enter
-0- | 36 | 26,700 | 44,500 | 71,200 | 106,800 | | 37 | Annualization amounts | 37 | 0.416 | 0.2496 | 0.156 | 0.104 | | 38 | Multiply line 37 by the
smaller of line 33 or line 36
| 38 | 1,153 | 1,383 | 2,305 | 3,851 | | 39 | Annualization amounts | 39 | 0.116 | 0.0696 | 0.0435 | 0.029 | | 40 | Multiply line 33 by line 39 | 40 | 321 | 386 | 643 | 1,074 | | 41 | Add lines 38 and 40. Enter the result here and on line
17 of
Section A
| 41 | 1,474 | 1,769 | 2,948 | 4,925 | | 42 | Multiply line 38 by 59.6% (.596) | 42 | 687 | 824 | 1,374 | 2,295 | | 43 | Multiply line 40 by 50% (.50) | 43 | 161 | 193 | 322 | 537 | | 44 | Add lines 42 and 43 | 44 | 848 | 1,017 | 1,696 | 2,832 | | 45 | Annualization amounts | 45 | 4 | 2.4 | 1.5 | 1 | | 46 | Deduction for self-employment tax. Divide line 44 by line
45. Enter the result here. Use this result to figure your AGI on line 1
| 46 | 212 | 424 | 1,131 | 2,832 |
|
taxmap/pubs/p505-016.htm#en_us_publink1000248725Worksheets for Chapter 2
Table 2-2. Where To Find Worksheets
Use the following worksheets and tables to figure your correct
estimated tax.
| IF you need... | THEN use... | ON page... |
| the 2011 Estimated Tax Worksheet (ES Worksheet) | | 20, 33 |
| 2011 Tax Rate Schedules | | 34 |
| to estimate your taxable social security and railroad retirement
benefits—line 1 of ES Worksheet (or Annualized ES Worksheet (Worksheet
2-6))
|
Worksheet 2-1 | 35 |
| to estimate your self-employment (SE) tax and your deduction
for SE tax—lines 1 and 11 of ES Worksheet (lines 1 and 17 of Annualized ES
Worksheet (Worksheet 2-6))
|
Worksheet 2-2 | 36 |
| to determine your standard deduction—line 2 of ES Worksheet
(line 7 of Annualized ES Worksheet (Worksheet 2-6)) |
Worksheet 2-3 | 37 |
| to estimate your income tax if line 1 of your ES Worksheet
includes a net capital gain or qualified dividends—line 6 of ES Worksheet
|
Worksheet 2-4 | 38 |
| to estimate your income tax if you expect to claim a foreign
earned income exclusion or foreign housing exclusion or deduction on Form 2555
or Form 2555-EZ—line 6 of ES Worksheet
|
Worksheet 2-5 | 39 |
| the 2011 Annualized Estimated Tax Worksheet (Annualized ES
Worksheet) |
Worksheet 2-6 | 40–41 |
| to estimate your income tax if line 1 of your Annualized
ES Worksheet includes a net capital gain or qualified dividends—line 12 of
Annualized ES Worksheet
|
Worksheet 2-7 | 42 |
| to estimate your income tax if you expect to claim a foreign
earned income exclusion or foreign housing exclusion or deduction on Form 2555
or Form 2555-EZ—line 12 of Annualized ES Worksheet
|
Worksheet 2-8 | 43 |
| to refigure (amend) your estimated tax during the year |
Worksheet 2-9 | 43 |
taxmap/pubs/p505-016.htm#en_us_publink1000248726taxmap/pubs/p505-016.htm#en_us_publink1000207460
2011 Tax Rate Schedules
Caution.
Do not use these Tax Rate Schedules to figure your 2010 taxes.
Use them only to figure your 2011 estimated taxes.
| Schedule X—Use if your
2011 filing status is
Single | Schedule Z—Use if your
2011 filing status is
Head of household | | If line 5 is: | The tax is: | | of the
| If line 5 is: | The tax is: | | of the | | Over— | But not
over—
| | | | | amount over— | Over— | But not
over—
| | | | | amount over— | |
|
| | $0 | $8,500 | | | 10% | | $0 | $0 | $12,150 | | | 10% | | $0 | | 8,500 | 34,500 | $850.00 | + | 15% | | 8,500 | 12,150 | 46,250 | $1,215.00 | + | 15% | | 12,150 | | 34,500 | 83,600 | 4,750.00 | + | 25% | | 34,500 | 46,250 | 119,400 | 6,330.00 | + | 25% | | 46,250 | | 83,600 | 174,400 | 17,025.00 | + | 28% | | 83,600 | 119,400 | 193,350 | 24,617.50 | + | 28% | | 119,400 | | 174,400 | 379,150 | 42,449.00 | + | 33% | | 174,400 | 193,350 | 379,150 | 45,323.50 | + | 33% | | 193,350 | | 379,150 | - - - - - - | 110,016.50 | + | 35% | | 379,150 | 379,150 | - - - - - - | 106,637.50 | + | 35% | | 379,150 | Schedule Y-1—Use if your
2011 filing status is
Married filing jointly or
Qualifying widow(er) | Schedule Y-2—Use if your
2011 filing status is
Married filing separately | | If line 5 is: | The tax is: | | of the
| If line 5 is: | The tax is: | | of the | | Over— | But not
over—
| | | | | amount over— | Over— | But not
over—
| | | | | amount over— | |
|
| | $0 | $17,000 | | | 10% | | $0 | $0 | $8,500 | | | 10% | | $0 | | 17,000 | 69,000 | $1,700.00 | + | 15% | | 17,000 | 8,500 | 34,500 | $850.00 | + | 15% | | 8,500 | | 69,000 | 139,350 | 9,500.00 | + | 25% | | 69,000 | 34,500 | 69,675 | 4,750.00 | + | 25% | | 34,500 | | 139,350 | 212,300 | 27,087.50 | + | 28% | | 139,350 | 69,675 | 106,150 | 13,543.75 | + | 28% | | 69,675 | | 212,300 | 379,150 | 47,513.50 | + | 33% | | 212,300 | 106,150 | 189,575 | 23,756.75 | + | 33% | | 106,150 | | 379,150 | - - - - - - | 102,574.00 | + | 35% | | 379,150 | 189,575 | - - - - - - | 51,287.00 | + | 35% | | 189,575 | | | | | | | | | | | | | | | |
|
taxmap/pubs/p505-016.htm#en_us_publink1000248721
Worksheet 2-1. 2011 Estimated Tax Worksheet—Line
1
Estimated Taxable Social Security and Railroad Retirement
Benefits
| Note.
If you are using this worksheet to estimate your taxable social security or
railroad retirement benefits for Worksheet 2-6, 2011 Annualized Estimated Tax
Worksheet, multiply the expected amount of benefits for each period by the
annualization amount on line 2 for the same period before entering it on line 1
below.
| | | | | 1. | Enter your expected social security and railroad retirement
benefits | 1. | | | 2. | Enter one-half of line 1 | 2. | | | 3. | Enter your expected total income.
Do not
include any social security and railroad retirement benefits, nontaxable
interest income, nontaxable IRA distributions, or nontaxable pension
distributions
| 3. | | | 4. | Enter your expected nontaxable interest income | 4. | | | 5. | Enter (as a positive amount) the total of any expected
exclusions or deductions for:
- U.S. savings bond interest used for higher education
expenses (Form 8815)
- Employer-provided adoption benefits (Form 8839)
- Foreign earned income or housing (Form 2555 or 2555-EZ)
- Income by bona fide residents of American Samoa (Form
4563) or Puerto Rico
| 5. | | | 6. | Add lines 2, 3, 4, and 5 | 6. | | | 7. | Enter your expected adjustments to income.
Do not
include any student loan interest deduction, tuition
and fees deduction, or domestic production activities deduction
| 7. | | | 8. | Subtract line 7 from line 6. If zero or less,
stop
here.
Do not
include any social security or railroad retirement benefits
in the amount on line 1 of your 2011 Estimated Tax Worksheet (or Annualized
Estimated Tax Worksheet (Worksheet 2-6))
| 8. | | | 9. | Enter $25,000 ($32,000 if you expect to file married filing
jointly; $0 if you expect to file married filing separately and expect to live
with your spouse at any time during the year)
| 9. | | | 10. | Subtract line 9 from line 8. If zero or less,
stop here.
Do not
include any social security or railroad retirement benefits in the amount on
line 1 of your 2011 Estimated Tax Worksheet (or Annualized Estimated Tax
Worksheet (Worksheet 2-6))
| 10. | | | 11. | Enter $9,000 ($12,000 if you expect to file married filing
jointly; $0 if you expect to file married filing separately and expect to live
with your spouse at any time during the year)
| 11. | | | 12. | Subtract line 11 from line 10. If zero or less, enter
-0- | 12. | | | 13. | Enter the
smaller
of line 10 or line 11
| 13. | | | 14. | Enter one-half of line 13 | 14. | | | 15. | Enter the smaller of line 2 or line 14
| 15. | | | 16. | Multiply line 12 by 85% (.85). If line 12 is zero, enter
-0- | 16. | | | 17. | Add lines 15 and 16 | 17. | | | 18. | Multiply line 1 by 85% (.85) | 18. | | | 19. | Enter the
smaller of line 17 or line 18
| 19. | | | 20. | Expected taxable social security and railroad retirement
benefits for the period.
Divide line 19 by the annualization amount on line 2
for the same period and enter here. Include this amount in the total on line 1
of your 2011 Estimated Tax Worksheet (or Annualized Estimated Tax Worksheet
(Worksheet 2-6))
| 20. | |
|
taxmap/pubs/p505-016.htm#en_us_publink1000248723
Worksheet 2-2. 2011 Estimated Tax Worksheet—Lines
1 and 11
Estimated Self-Employment Tax and Deduction Worksheet
| 1. | a. | Enter your expected income and profits subject to self-employment
tax* | 1a. | | | . | | | b. | If you will have farm income and also receive social security
retirement or disability benefits, enter your expected Conservation Reserve
Program payments that will be included on Schedule F (Form 1040) or listed on
Schedule K-1 (Form 1065)
| 1b. | | | | | 2. | | Subtract line 1b from line 1a | 2. | | | | | 3. | | Multiply line 2 by 92.35% (.9235). If less than $400,
do not
complete this worksheet; you will not owe self-employment tax on your expected
net earnings from self-employment
| 3. | | | | | 4. | | Multiply line 3 by 2.9% (.029) | 4. | | | 5. | | Maximum income subject to social security tax | 5. | $106,800 | | | | 6. | | Enter your expected wages (if subject to social security
tax or the
4.2% portion of tier 1 railroad retirement tax)
| 6. | | | | | 7. | | Subtract line 6 from line 5 | 7. | | | | | | | Note.
If line 7 is zero or less, enter -0- on line 9 and skip to line 10. | | | | | | 8. | | Enter the
smaller of line 3 or line 7
| 8. | | | | | 9. | | Multiply line 8 by 10.4% (.104) | 9. | | | 10. | | Add line 4 and line 9. Enter the result here and on line
11 of your 2011 Estimated Tax Worksheet (or line 17 of the Annualized Estimated
Tax Worksheet (Worksheet 2-6))
| 10. | | | 11. | | Multiply line 4 by 50% (.50) | 11. | | | | | 12. | | Multiply line 9 by 59.6% (.596) | 12. | | | | | 13. | | Add lines 11 and 12. This is your expected deduction for
self-employment tax on Form 1040, line 27. Subtract this amount when figuring
your expected AGI on line 1 of your 2011 Estimated Tax Worksheet (or Annualized
Estimated Tax Worksheet (Worksheet 2-6))
| 13. | | | |
| *Your net profit from self-employment is found on Schedule
C, line 31; Schedule F, line 36; Schedule K-1 (Form 1065), box 14, code A; and
Schedule K-1 (Form 1065-B), box 9, code J1.
|
|
taxmap/pubs/p505-016.htm#en_us_publink1000138362
Worksheet 2-3. 2011 Estimated Tax Worksheet—Line
2
Standard Deduction Worksheet
| Caution.
Do not complete this worksheet if you expect your spouse to itemize on a
separate return or you expect to be a dual-status alien. In either case, your
standard deduction will be zero.
| | 1. | Enter the amount shown below for your filing status. | | | | | | | • Single or married filing separately—$5,800 | | | | | | | • Married filing jointly or Qualifying widow(er)—$11,600 | | | | | | | • Head of household—$8,500 | 1. | | | | | 2. | Can you (or your spouse if filing jointly) be claimed
as a dependent on someone else's return? | | | | | | |
| No. | Skip line 3; enter the amount from line 1 on line 4. | | | | |
| Yes.
| Go to line 3. | | | | 3. | Is your
earned income* more than $650?
| | | | | | |
| Yes.
| Add $300 to your earned income. Enter the total. | | | | | | |
| No. | Enter $950 | 3. | | | | | 4. | Enter the
smaller of line 1 or line 3
| 4. | | | 5. | Were you (or your spouse if filing jointly) born before
January 2, 1947, or blind? | | |
| No. | Go to line 6. | | |
| Yes.
| Check if: | | | | | a.
You were
Born before January 2, 1947
Blind
| | | | | b.
Your spouse
was
Born before January 2, 1947
Blind
| | | | | c.
Total boxes checked in 5a and 5b
| | | | ▸ | Multiply $1,150 ($1,450 if single or head of household)
by the number in the box on line 5c | 5. | | | 6. | Standard deduction.
Add lines 4 and 5. Enter the result here and on line
2 of your 2011 Estimated Tax Worksheet (or line 7 of your 2011 Annualized
Estimated Tax Worksheet (Worksheet 2-6))
| 6. | |
| * Earned income
includes wages, salaries, tips, professional fees, and other compensation
received for personal services you performed. It also includes any amount
received as a scholarship that you must include in your income. Reduce your
earned income by your allowed deduction for self-employment tax (Worksheet 2-2,
line 13).
|
|
taxmap/pubs/p505-016.htm#en_us_publink1000248728
Worksheet 2-4. 2011 Estimated Tax Worksheet—Line
6
Qualified Dividends and Capital Gain Tax Worksheet
| | | | | | | | | | | | 1. | Enter the amount from the appropriate worksheet.
- Line 5 of your 2010 Estimated Tax Worksheet
- Line 3 of Worksheet 2-5 (use if you will exclude or
deduct foreign earned income or housing)
| 1. | | | | | 2. | Enter your qualified dividends expected for 20111 | 2. | | | | | | | | | 3. | Enter your net capital gain expected for 20111 | 3. | | | | | | | | | 4. | Add lines 2 and 3 | | | 4. | | | | | | | 5. | Enter your 28% rate gain or loss expected for 20112 | 5. | | | | | | | | | 6. | Enter your unrecaptured section 1250 gain expected for
2011 | 6. | | | | | | | | | 7. | Add lines 5 and 6 | 7. | | | | | | | | | 8. | Enter the
smaller of line 3 or line 7
| 8. | | | | | | | 9. | Subtract line 8 from line 4 | 9. | | | | | 10. | Subtract line 9 from line 1. If zero or less, enter -0- | 10. | | | | | | | 11. | Enter the
smaller
of line 1 or $69,000 ($34,500 if single or married filing
separately, or $46,250 if head of household)
| 11. | | | | | | | | | 12. | Enter the
smaller of line 10 or line 11
| 12. | | | | | | | | | 13. | Subtract line 4 from line 1. If zero or less, enter -0- | 13. | | | | | | | | | 14. | Enter the
larger of line 12 or line 13
| 14. | | | | | | Note.
If line 11 and line 12 are the same, skip line 15 and
go to line 16.
| | | | | | 15. | Subtract line 12 from line 11 | 15. | | | | | | Note.
If lines 1 and 11 are the same, skip lines 16 through 28 and go to line 29.
| | | | 16. | Enter the
smaller of line 1 or line 9
| 16. | | | | | | | 17. | Enter the amount from line 15. If line 15 is blank, enter
-0- | 17. | | | | | | | 18. | Subtract line 17 from line 16. If zero or less, enter
-0- | 18. | | | | | 19. | Multiply line 18 by 15% (.15) | 19. | | | | Note.
If line 6 is zero or blank, skip lines 20 through 25
and go to line 26.
| | | | 20. | Enter the
smaller of line 3 or line 6
| 20. | | | | | | | 21. | Add lines 4 and 14 | 21. | | | | | | | | | 22. | Enter the amount from line 1 above | 22. | | | | | | | | | 23. | Subtract line 22 from line 21. If zero or less, enter
-0- | 23. | | | | | | | 24. | Subtract line 23 from line 20. If zero or less, enter
-0- | 24. | | | | | 25. | Multiply line 24 by 25% (.25) | 25. | | | | Note.
If line 5 is zero or blank, skip lines 26 through 28
and go to line 29.
| | | | 26. | Add lines 14, 15, 18, and 24 | 26. | | | | | 27. | Subtract line 26 from line 1 | 27. | | | | | 28. | Multiply line 27 by 28% (.28) | 28. | | | 29. | Figure the tax on the amount on line 14 from the 2011
Tax Rate Schedules | 29. | | | 30. | Add lines 19, 25, 28, and 29 | 30. | | | 31. | Figure the tax on the amount on line 1 from the 2011 Tax
Rate Schedules | 31. | | | 32. | Tax on all taxable income (including capital gains and
qualified dividends).
Enter the
smaller
of line 30
or line 31 here and on line 6 of the 2011 Estimated Tax
Worksheet (or line 4 of Worksheet 2-5)
| 32. | |
| 1
If you expect to deduct investment interest expense, do not include on this line
any qualified dividends or net capital gain that you will elect to treat as
investment income.
| | 2
This includes a section 1202 exclusion from eligible gain on qualified small
business stock and gain or loss from the sale or exchange of collectibles. See
the instructions for Schedule D (Form 1040) for more information.
|
|
taxmap/pubs/p505-016.htm#en_us_publink1000248729
Worksheet 2-5. 2011 Estimated Tax Worksheet—Line
6
Foreign Earned Income Tax Worksheet
| Before you begin: If line 5 of your 2011 Estimated Tax Worksheet
is zero, do not complete this worksheet.
| | | | | | | | | | | | 1. | Enter the amount from line 5 of your 2011 Estimated Tax
Worksheet | 1. | | | 2. | Enter the total foreign earned income and housing amount
you (and your spouse if filing jointly) expect to exclude or deduct in 2011 on
Form 2555 or Form 2555-EZ
| 2. | | | 3. | Add lines 1 and 2 | 3. | | | 4. | Tax on the amount on line 3.
Use the 2011 Tax Rate Schedules or Worksheet 2-4,* as
appropriate
| 4. | | | 5. | Tax on the amount on line 2.
Use the 2011 Tax Rate Schedules
| 5. | | | 6. | Subtract line 5 from line 4. Enter the result here and
on line 6 of your 2011 Estimated Tax Worksheet. If
zero or less, enter -0-
| 6. | | | | | | | | | | | | *If using Worksheet 2-4 (Qualified Dividends and Capital
Gain Tax Worksheet), enter the amount from line 3 above
on line 1 of Worksheet 2-4. Complete Worksheet 2-4 through
line 9. Next, determine if you have a capital gain excess.
| Figuring capital gain excess.
To find out if you have a capital gain excess, subtract
line 5 of your 2011 Estimated Tax
Worksheet from line 9 of Worksheet 2-4. If the result
is more than zero, that amount is your capital gain excess.
| No capital gain excess.
If you do not have a capital gain excess, complete the
rest of Worksheet 2-4 according
to its instructions. Then complete lines 5 and 6 above.
| Capital gain excess.
If you have a capital gain excess, complete a second
Worksheet 2-4 as instructed above
but in its entirety and with the following additional
modifications. Then complete lines 5 and 6 above.
| | | Make these modifications only for purposes of filling
out Worksheet 2-5 above. | | | a. Reduce (but not below zero) the amount you otherwise
would enter on line 3 of Worksheet 2-4 by your capital
gain excess.
| | | b. Reduce (but not below zero) the amount you otherwise
would enter on line 2 of Worksheet 2-4 by any of your
capital gain excess not used in (a) above.
| | | c. Reduce (but not below zero) the amount you otherwise
would enter on line 5 of Worksheet 2-4 by your capital
gain excess.
| | | d. Reduce (but not below zero) the amount you otherwise
would enter on line 6 of Worksheet 2-4 by your capital
gain excess.
|
|
taxmap/pubs/p505-016.htm#en_us_publink1000240766
Worksheet 2-6 2011 Annualized Estimated Tax Worksheet
Note.
For instructions, see
Annualized Income Installment Method beginning on page 23
| Section A (For Figuring Your Annualized Estimated Tax
Payments)—Complete each column after end of period shown.
| Estates and trusts: Use the following ending dates in
columns (a) through (d):
2/28/2011, 4/30/2011, 7/31/2011, 11/30/2011.
| (a)
1/1/11-3/31/11
| (b)
1/1/11-5/31/11
| (c)
1/1/11-8/31/11
| (d)
1/1/11-12/31/11
| | 1 | Adjusted gross income (AGI) for each period (see instructions).
Estates and trusts, enter your taxable income without your exemption for each
period. Self-employed: Complete Section B first
| 1 | | | | | | 2 | Annualization amounts. (Estates and trusts, see instructions) | 2 | 4 | 2.4 | 1.5 | 1 | | 3 | Annualized income. Multiply line 1 by line 2 | 3 | | | | | | 4 | If you itemize, enter itemized deductions for period shown
in the column headings (see instructions). All others, enter -0- and skip to
line 7.
Exception:
Estates and trusts, skip to line 9 and enter amount from
line 3
| 4 | | | | | | 5 | Annualization amounts | 5 | 4 | 2.4 | 1.5 | 1 | | 6 | Multiply line 4 by line 5 (see instructions) | 6 | | | | | | 7 | Standard deduction from Worksheet 2-3 | 7 | | | | | | 8 | Enter the
larger
of line 6 or line 7
| 8 | | | | | | 9 | Subtract line 8 from line 3 | 9 | | | | | | 10 | In each column, multiply $3,700 by your total expected
number of exemptions (see instructions). (Estates and trusts, see instructions) | 10 | | | | | | 11 | Subtract line 10 from line 9. If zero or less, enter -0- | 11 | | | | | | 12 | Figure your tax on the amount on line 11 (see instructions) | 12 | | | | | | 13 | For each period, enter any tax from Forms 8814, 4972,
and 6251. Also include any recapture of education credits (see instructions) | 13 | | | | | | 14 | Add lines 12 and 13 | 14 | | | | | | 15 | Enter nonrefundable credits for each period (see instructions) | 15 | | | | | | 16 | Subtract line 15 from line 14 | 16 | | | | | | 17 | Self-employment tax from line 41 of Section B | 17 | | | | | | 18 | Enter other taxes for each period (see instructions) | 18 | | | | | | 19 | Total tax. Add lines 16, 17, and 18 | 19 | | | | | | 20 | Enter refundable credits for each period (see instructions
for type of credits allowed).
Do not
include any income tax withholding on this line
| 20 | | | | | | 21 | Subtract line 20 from line 19. If zero or less, enter
-0- | 21 | | | | | | 22 | Applicable percentage | 22 | 22.5% | 45% | 67.5% | 90% | | 23 | Multiply line 21 by line 22 | 23 | | | | | | | Complete lines 24 through 29 of one column before going
to line 24 of the next column. | | | | | | | 24 | Enter the total of the amounts in all previous columns
of line 29 | 24 | | | | | | 25 | Annualized income installment. Subtract line 24 from line
23. If zero or less, enter -0- | 25 | | | | | | 26 | Enter 25% (.25) of line 14c of the Form 1040-ES Estimated
Tax Worksheet in each column | 26 | | | | | | 27 | Subtract line 29 of the previous column from line 28 of
that column | 27 | | | | | | 28 | Add lines 26 and 27 | 28 | | | | | | 29 | Enter the
smaller of line 25 or line 28 (see instructions)
| 29 | | | | | | 30 | Total required payments for the period. Add lines 24 and
29 | 30 | | | | | | 31 | Estimated tax payments made (line 32 of all previous columns)
plus tax withholding through the due date for the period (see instructions)
| 31 | | | | | | 32 | Estimated tax payment required by the next due date. Subtract
line 31 from
line 30 and enter the result (but not less than zero)
here and on your payment voucher
| 32 | | | | |
|
taxmap/pubs/p505-016.htm#en_us_publink1000248730
Worksheet 2-6. 2011 Annualized Estimated Tax Worksheet (Continued)
| Section B (For Figuring Your Annualized Estimated Self-Employment
Tax)—Complete each column after end of period shown. | | (Form 1040 filers only) | (a)
1/1/11-3/31/11
| (b)
1/1/11-5/31/11
| (c)
1/1/11-8/31/11
| (d)
1/1/11-12/31/11
| | 33 | Net earnings from self-employment for the period (see
instructions) | 33 | | | | | | 34 | Prorated social security tax limit | 34 | $26,700 | $44,500 | $71,200 | $106,800 | | 35 | Enter actual wages for the period subject to social security
tax or the 4.2% portion of the tier 1 railroad retirement tax.
Exception: If you file Form 4137 or Form 8919, see instructions
| 35 | | | | | | 36 | Subtract line 35 from line 34. If zero or less, enter
-0- | 36 | | | | | | 37 | Annualization amounts | 37 | 0.416 | 0.2496 | 0.156 | 0.104 | | 38 | Multiply line 37 by the
smaller of line 33 or line 36
| 38 | | | | | | 39 | Annualization amounts | 39 | 0.116 | 0.0696 | 0.0435 | 0.029 | | 40 | Multiply line 33 by line 39 | 40 | | | | | | 41 | Add lines 38 and 40. Enter the result here and on line
17 of
Section A
| 41 | | | | | | 42 | Multiply line 38 by 59.6% (.596) | 42 | | | | | | 43 | Multiply line 40 by 50% (.50) | 43 | | | | | | 44 | Add lines 42 and 43 | 44 | | | | | | 45 | Annualization amounts | 45 | 4 | 2.4 | 1.5 | 1 | | 46 | Deduction for self-employment tax. Divide line 44 by line
45. Enter the result here. Use this result to figure your AGI on line 1
| 46 | | | | |
|
taxmap/pubs/p505-016.htm#en_us_publink1000139302
Worksheet 2-7. 2011 Annualized Estimated Tax Worksheet—Line
12
Qualified Dividends and Capital Gain Tax Worksheet
| Note.
To figure the annualized entries for lines 2, 3, 5, and 6 below, multiply
the expected amount for the period by the annualization amount on line 2 of
Worksheet 2-6 for the same period.
| | | | | | | | | | | | | 1. | Enter the amount from the appropriate worksheet.
- Line 11 of your 2011 Annualized Estimated Tax Worksheet
(Worksheet 2-6)
- Line 3 of Worksheet 2-8 (use if you will exclude or
deduct foreign earned income or housing)
| 1. | | | | | 2. | Enter your annualized qualified dividends expected for
20111 | 2. | | | | | | | | | 3. | Enter your annualized net capital gain expected
for 20111 | 3. | | | | | | | | | 4. | Add lines 2 and 3 | | | 4. | | | | | | | 5. | Enter your annualized 28% rate gain or loss expected for
20112 | 5. | | | | | | | | | 6. | Enter your annualized unrecaptured section 1250 gain expected
for 2011 | 6. | | | | | | | | | 7. | Add lines 5 and 6 | 7. | | | | | | | | | 8. | Enter the
smaller of line 3 or line 7
| 8. | | | | | | | 9. | Subtract line 8 from line 4 | 9. | | | | | 10. | Subtract line 9 from line 1. If zero or less, enter -0- | 10. | | | | | | | 11. | Enter the
smaller
of line 1 or $69,000 ($34,500 if single or married filing
separately, or $46,250 if head of household)
| 11. | | | | | | | | | 12. | Enter the
smaller of line 10 or line 11
| 12. | | | | | | | | | 13. | Subtract line 4 from line 1. If zero or less,
enter -0-
|
13.
|
| | | | | | | | 14. | Enter the
larger of line 12 or line 13
| 14. | | | | | | Note.
If line 11 and line 12 are the same, skip line 15 and
go to line 16.
| | | | | | 15. | Subtract line 12 from line 11 | 15. | | | | | | Note.
If lines 1 and 11 are the same, skip lines 16 through
28 and go to line 29. | | | | 16. | Enter the
smaller of line 1 or line 9
| 16. | | | | | | | 17. | Enter the amount from line 15. If line 15 is blank, enter
-0- | 17. | | | | | | | 18. | Subtract line 17 from line 16. If zero or less, enter
-0- | 18. | | | | | 19. | Multiply line 18 by 15% (.15) | 19. | | | | Note.
If line 6 is zero or blank, skip lines 20 through 25
and go to line 26.
| | | | 20. | Enter the
smaller of line 3 or line 6
| 20. | | | | | | | 21. | Add lines 4 and 14 | 21. | | | | | | | | | 22. | Enter the amount from line 1 above | 22. | | | | | | | | | 23. | Subtract line 22 from line 21. If zero or less, enter
-0- | 23. | | | | | | | 24. | Subtract line 23 from line 20. If zero or less, enter
-0- | 24. | | | | | 25. | Multiply line 24 by 25% (.25) | 25. | | | | Note.
If line 5 is zero or blank, skip lines 26 through 28
and go to line 29.
| | | | 26. | Add lines 14, 15, 18, and 24 | 26. | | | | | 27. | Subtract line 26 from line 1 | 27. | | | | | 28. | Multiply line 27 by 28% (.28) | 28. | | | 29. | Figure the tax on the amount on line 14 from the 2011
Tax Rate Schedules | 29. | | | 30. | Add lines 19, 25, 28, and 29 | 30. | | | 31. | Figure the tax on the amount on line 1 from the 2011 Tax
Rate Schedules | 31. | | | 32. | Tax on all taxable income (including capital gains and
qualified dividends).
Enter the
smaller
of line 30 or
line 31 here and on line 12 of the appropriate column
of the 2011 Annualized Estimated Tax Worksheet (or line 4 of Worksheet 2-8)
| 32. | |
| 1
If you expect to deduct investment interest expense, do not include on this line
any qualified dividends or net capital gain that you will elect to treat as
investment income.
| | 2
This includes a section 1202 exclusion from eligible gain on qualified small
business stock and gain or loss from the sale or exchange of collectibles. See
the instructions for Schedule D (Form 1040) for more information.
|
|
taxmap/pubs/p505-016.htm#en_us_publink1000248731
Worksheet 2-8. 2011 Annualized Estimated Tax Worksheet—Line
12
Foreign Earned Income Tax Worksheet
| Before you begin: | If line 11 of Worksheet 2-6 (2011 Annualized Estimated
Tax Worksheet) is zero for the period, do not complete this worksheet. | | 1. | Enter the amount from line 11 of your 2011 Annualized
Estimated Tax Worksheet for the period | 1. | | | 2. | Enter the annualized amount*
of foreign earned income and housing amount you (and
your spouse if filing jointly) expect to exclude or deduct for the period on
Form 2555 or Form 2555-EZ
| 2. | | | 3. | Add lines 1 and 2 | 3. | | | 4. | Tax on the amount on line 3.
Use the 2011 Tax Rate Schedules or Worksheet 2-7,** as appropriate
| 4. | | | 5. | Tax on the amount on line 2.
Use the 2011 Tax Rate Schedules
| 5. | | | 6. | Subtract line 5 from line 4. Enter the result here and
on line 12 of your 2011 Annualized Estimated Tax Worksheet (Worksheet 2-6). If
zero or less, enter -0-
| 6. | | | | | | | | | | | | *
To figure the annualized amount for line 2, multiply the expected exclusion for
the period by the annualization amount
on line 2 of Worksheet 2-6 for the same period.
| **If using Worksheet 2-7 (Qualified Dividends and Capital
Gain Tax Worksheet), enter the amount from line 3 above on
line 1 of Worksheet 2-7. Complete Worksheet 2-7 through
line 9. Next, determine if you have a capital gain excess.
| Figuring capital gain excess.
To find out if you have a capital gain excess for the
appropriate period, subtract line 11
of Worksheet 2-6 from line 9 of Worksheet 2-7. If the
result is more than zero, that amount is your capital gain excess.
| | No capital gain excess.
If you do not have a capital gain excess, complete the
rest of Worksheet 2-7 according to its instructions. Then complete lines 5 and 6
above.
| | Capital gain excess.
If you have a capital gain excess, complete a second
Worksheet 2-7 as instructed above but in its entirety and with the following
additional modifications. Then complete lines 5 and 6 above.
| | | Make these modifications only for purposes of filling
out Worksheet 2-8 above. | | | a. Reduce (but not below zero) the amount you otherwise
would enter on line 3 of Worksheet 2-7 by your capital gain excess. | | | b. Reduce (but not below zero) the amount you otherwise
would enter on line 2 of Worksheet 2-7 by any of your capital gain excess not
used in (a) above.
| | | c. Reduce (but not below zero) the amount you otherwise
would enter on line 5 of Worksheet 2-7 by your capital gain excess. | | | d. Reduce (but not below zero) the amount you otherwise
would enter on line 6 of Worksheet 2-7 by your capital gain excess. |
|
taxmap/pubs/p505-016.htm#en_us_publink1000145979
Worksheet 2-9. Amended Estimated Tax Worksheet
| | | | | | | | | 1. | Amended total estimated tax due | 1. | | | 2. | Multiply line 1 by: | | | | | | | 50% (.50) if next payment is due June 15, 2011 | | | | | | | 75% (.75) if next payment is due September 15, 2011 | | | | | | | 100% (1.00) if next payment is due January 17, 2012 | 2. | | | | | 3. | Estimated tax payments made for all previous periods | 3. | | | | | 4. | Next required payment:
Subtract line 3 from line 2 and enter the result (but
not less than zero) here and on your payment voucher for your next required
payment
| 4. | | | | | | Note.
If the payment on line 4 is due January 17, 2012,
stop here. Otherwise, go to line 5. | | | | | | 5. | Add lines 3 and 4 | 5. | | | 6. | Subtract line 5 from line 1 and enter the result (but
not less than zero) | 6. | | | 7. | Each following required payment:
If the payment on line 4 is due June 15, 2011, enter
one-half of the amount on line 6 here and on the payment vouchers for your
payments due September 15, 2011, and January 17, 2012. If the amount on line 4
is due September 15, 2011, enter the full amount on line 6 here and on the
payment voucher for your payment due January 17, 2012
| 7. | |
|
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Table of Contents |
Index |
Next Page
Figure 2-D. Illustrated Example 1--Regular Installment Method
(Anne and Larry Jones) 
