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IRS.gov Website
Publication 505
taxmap/pubs/p505-015.htm#en_us_publink1000194713

How To Pay
Estimated Tax(p31)

rule
There are several ways to pay estimated tax.
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Credit an Overpayment(p31)

rule
If you show an overpayment of tax after completing your Form 1040 or Form 1040A for 2013, you can apply part or all of it to your estimated tax for 2014. On Form 1040, or Form 1040A, enter the amount you want credited to your estimated tax rather than refunded. Take the amount you have credited into account when figuring your estimated tax payments. If you timely file your 2013 return, treat the credit as a payment made on April 15, 2014.
If you are a beneficiary of an estate or trust, and the trustee elects to credit 2014 trust payments of estimated tax to you, you can treat the amount credited as paid by you on January 15, 2015.
If you choose to have an overpayment of tax credited to your estimated tax, you cannot have any of that amount refunded to you until you file your tax return for the following year. You also cannot use that overpayment in any other way.
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Example.(p31)

When Kathleen finished filling out her 2013 tax return, she saw that she had overpaid her taxes by $750. Kathleen knew she would owe additional tax in 2014. She credited $600 of the overpayment to her 2014 estimated tax and had the remaining $150 refunded to her.
In September, she amended her 2013 return by filing Form 1040X, Amended U.S. Individual Income Tax Return. It turned out that she owed $250 more in tax than she had thought. This reduced her 2013 overpayment from $750 to $500. Because the $750 had already been applied to her 2014 estimated tax or refunded to her, the IRS billed her for the additional $250 she owed, plus penalties and interest. Kathleen could not use any of the $600 she had credited to her 2014 estimated tax to pay this bill.
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Pay Online(p31)

rule
Paying online is convenient and secure and helps make sure we get your payments on time. You can make your estimated tax payments online when you e-file or at any time during the year. You can pay using either of the following electronic payment methods.
To pay your taxes online or for more information, go to www.irs.gov/e-pay.
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Pay by Phone(p32)

rule
Paying by phone is another safe and secure method of paying electronically. Use one of the following methods.
To pay by direct transfer from your bank account, call EFTPS Customer Service at 1-800-555-4477 (English), 1-800-244-4829 (Espanol), or TTY/TDD 1-800-733-4829.
To pay using a credit or debit card, you can call one of the following service providers. There is a convenience fee charged by these providers that varies by provider, card type, and payment amount.

WorldPay
1-888-9-PAY-TAXTM (1-888-972-9829)
www.payUSAtax.com




Official Payments Corporation
1-888-UPAY-TAXTM (1-888-872-9829)
www.officialpayments.com




Link2GOV Corporation
1-888-PAY-1040TM (1-888-729-1040)
www.PAY1040.com


For the latest details on how to pay by phone, go to www.irs.gov/e-pay.
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Pay by Check or Money Order Using the Estimated Tax Payment Voucher(p32)

rule
Each payment of estimated tax by check or money order must be accompanied by a payment voucher from Form 1040-ES. If you use your own envelopes (and not the window envelope that comes with the 1040-ES package), make sure you mail your payment vouchers to the address shown in the Form 1040-ES instructions for the place where you live.
EIC
Do not use the address shown in the Form 1040 or Form 1040A instructions.
If you did not pay estimated tax last year, get a copy of Form 1040-ES from the IRS (see chapter 5). Follow the instructions to make sure you use the vouchers correctly.
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Joint estimated tax payments.(p32)

rule
If you file a joint return and are making joint estimated tax payments, enter the names and social security numbers on the payment voucher in the same order as they will appear on the joint return.
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Change of address.(p32)

rule
You must notify the IRS if you are making estimated tax payments and you changed your address during the year. Complete Form 8822, Change of Address, and mail it to the address shown in the instructions for that form.
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Worksheets for Chapter 2

Use the following worksheets and tables to figure your correct estimated tax.

IF you need...THEN use...
2014 Tax Rate Schedules 
the 2014 Estimated Tax Worksheet Worksheet 2-1
to estimate your taxable social security and railroad retirement benefits—line 1 of ES Worksheet (or Annualized ES Worksheet (Worksheet 2-9)) Worksheet 2-2
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 2-9)) Worksheet 2-3
to estimate your standard deduction—line 2 of ES Worksheet (line 7 of Annualized ES Worksheet (Worksheet 2-9)) Worksheet 2-4
to reduce your itemized deductions because your estimated AGI is more than $152,525—line 2 of ES Worksheet Worksheet 2-5
to reduce your exemption amount because your estimated AGI is more than $152,525—line 4 of ES Worksheet Worksheet 2-6
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 2-7
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 2-8
the 2014 Annualized Estimated Tax Worksheet (Annualized ES Worksheet) Worksheet 2-9
to reduce your itemized deductions because your estimated annualized AGI is more than $152,525—line 6 of Annualized ES Worksheet Worksheet 2-10
to reduce your exemption amount because your estimated annualized AGI is more than $152,525—line 10 of Annualized ES Worksheet Worksheet 2-11
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 2-12
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 2-13
to refigure (amend) your estimated tax during the year Worksheet 2-14
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2014 Tax Rate Schedules

caution Do not use these Tax Rate Schedules to figure your 2013 taxes. Use them only to figure your 2014 estimated taxes.

Schedule X—Use if your 2014 filing status is
Single
Schedule Z—Use if your 2014 filing status is
Head of household
If line 5 is:The tax is:   If line 5 is:The tax is:  
Over—  But not
  over—
     of the
amount
over—
Over—  But not
  over—
     of the
amount
over—
$0$9,075  10.0% $0$0$12,950  10.0% $0
9,07536,900$907.50+15.0% 9,07512,95049,400$1,295.00+15.0% 12,950
36,90089,3505,081.25+25.0% 36,90049,400127,5506,762.50+25.0% 49,400
89,350186,35018,193.75+28.0% 89,350127,550206,60026,300.00+28.0% 127,550
186,350405,10045,353.75+33.0% 186,350206,600405,10048,434.00+33.0% 206,600
405,100406,750117,541.25+35.0% 405,100405,100432,200113,939.00+35.0% 405,100
406,750- - - - - -118,118.75+39.6% 406,750432,200- - - - - -123,424.00+39.6% 432,200
Schedule Y-1—Use if your 2014 filing status is
Married filing jointly or Qualifying widow(er)
Schedule Y-2—Use if your 2014 filing status is
Married filing separately
If line 5 is:The tax is:   If line 5 is:The tax is:  
Over—  But not
  over—
     of the
amount
over—
Over—  But not
  over—
     of the
amount
over—
$0$18,150  10.0% $0$0$9,075  10.0% $0
18,15073,800$1,815.00+15.0% 18,1509,07536,900$907.50+15.0% 9,075
73,800148,85010,162.50+25.0% 73,80036,90074,4255,081.25+25.0% 36,900
148,850226,85028,925.00+28.0% 148,85074,425113,42514,462.50+28.0% 74,425
226,850405,10050,765.00+33.0% 226,850113,425202,55025,382.50+33.0% 113,425
405,100457,600109,587.50+35.0% 405,100202,550228,80054,793.75+35.0% 202,550
457,600- - - - - -127,962.50+39.6% 457,600228,800- - - - - -63,981.25+39.6% 228,800
              
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Worksheet 2-1.2014 Estimated Tax Worksheet

cautionWhen this worksheet refers you to instructions, you can find those instructions in the Instructions for 2014 Form 1040-ES.

1 Adjusted gross income you expect in 2014 (see instructions) 1   
2
  • If you plan to itemize deductions, enter the estimated total of your itemized deductions.
    Caution: If line 1 is over $152,525, your deduction may be reduced. See Worksheet 2-5.
  • If you do not plan to itemize deductions, enter your standard deduction.
2   
3 Subtract line 2 from line 1 3   
4 Exemptions. Multiply $3,950 by the number of personal exemptions.
Caution: If line 1 is over $152,525, the amount of your personal exemptions may be limited. See Worksheet 2-6.
4   
5 Subtract line 4 from line 3 5   
6 Tax. Figure your tax on the amount on line 5 by using the 2014 Tax Rate Schedules
Caution: If you will have qualified dividends or a net capital gain, or expect to exclude or deduct foreign earned income or housing, see Worksheets 2-7 and 2-8 to figure the tax
6   
7 Alternative minimum tax from Form 6251 or included on Form 1040A, line 28 7   
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 8   
9 Credits (see instructions). Do not include any income tax withholding on this line 9   
10 Subtract line 9 from line 8. If zero or less, enter -0- 10   
11 Self-employment tax (see instructions) 11   
12 Other taxes including, if applicable, Additional Medicare Tax and/or NIIT (see instructions) 12   
13a Add lines 10 through 12 13a   
b Earned income credit, additional child tax credit, fuel tax credit, and refundable American opportunity credit 13b   
c Total 2014 estimated tax. Subtract line 13b from line 13a. If zero or less, enter -0- 13c   
14a Multiply line 13c by 90% (662/3% for farmers and fishermen) 14a      
b Required annual payment based on prior year's tax (see instructions) 14b      
c Required annual payment to avoid a penalty. Enter the smaller of line 14a or 14b 14c   
 
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.
   
        
15 Income tax withheld and estimated to be withheld during 2014 (including income tax withholding on pensions, annuities, certain deferred income, etc.) 15   
16a Subtract line 15 from line 14c 16a      
 Is the result zero or less?
Yes. Stop here. You are not required to make estimated tax payments.
No. Go to line 16b.
      
b Subtract line 15 from line 13c 16b      
 Is the result less than $1,000?
Yes. Stop here. You are not required to make estimated tax payments.
No. Go to line 17 to figure your required payment.
   
        
17 If the first payment you are required to make is due April 15, 2014, enter ¼ of line 16a (minus any 2013 overpayment that you are applying to this installment) here, and on your estimated tax payment voucher(s) if you are paying by check or money order 17   
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Worksheet 2-2.2014 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 2-9, 2014 Annualized Estimated Tax Worksheet, multiply the expected amount of benefits for each period by the annualization amount shown on Worksheet 2-9, line 2, for the same period before entering it on line 1 below.
  
1.Enter your expected social security and railroad retirement benefits1.
2.Enter one-half of line 12.
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 income4.
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 56.
7.Enter your expected adjustments to income. Do not include any student loan interest deduction 7.
8.Subtract line 7 from line 6. If zero or less, stop here.
Note. Do not include any social security or railroad retirement benefits in the amount on line 1 of your 2014 Estimated Tax Worksheet (Worksheet 2-1) (or Annualized Estimated Tax Worksheet (Worksheet 2-9))
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.
Note. Do not include any social security or railroad retirement benefits in the amount on line 1 of your Worksheet 2-1 (or Annualized Estimated Tax Worksheet (Worksheet 2-9))
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 1314.
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 1617.
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 shown on Worksheet 2-9, line 2, for the same period and enter here. Include this amount in the total on line 1 of your 2014 Estimated Tax Worksheet (Worksheet 2-1) (or Annualized Estimated Tax Worksheet (Worksheet 2-9)) 20.
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Worksheet 2-3.2014 Estimated Tax Worksheet—Lines 1 and 11
Estimated Self-Employment Tax and Deduction Worksheet

1a.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 1a2.  
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 tax5. $117,000  
6. Enter your expected wages (if subject to social security tax or the
6.2% portion of tier 1 railroad retirement tax)
6.  
7. Subtract line 6 from line 57.  
  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 12.4% (.124)9.
10. Add line 4 and line 9. Enter the result here and on line 11 of your 2014 Estimated Tax Worksheet (Worksheet 2-1) (or line 17 of the Annualized Estimated Tax Worksheet (Worksheet 2-9)) 10.
11. Multiply line 10 by 50% (.50). 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 2014 Estimated Tax Worksheet (Worksheet 2-1) (or Annualized Estimated Tax Worksheet (Worksheet 2-9)) 11.  
*Net profit from self-employment is found on Schedule C; Schedule F; Schedule K-1 (Form 1065); and Schedule K-1 (Form 1065-B).
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Worksheet 2-4.2014 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—$6,200    
 • Married filing jointly or Qualifying widow(er)—$12,400    
 • Head of household—$9,1001.  
2.Can you (or your spouse if filing jointly) be claimed as a dependent on someone else's return?    
  box No. Skip line 3; enter the amount from line 1 on line 4.  
  box Yes. Go to line 3.  
3.Is your earned income* more than $650?     
  box Yes. Add $350 to your earned income. Enter the total.    
  box No. Enter $1,0003.  
4.Enter the smaller of line 1 or line 3 4.
5.Were you (or your spouse if filing jointly) born before January 2, 1950, or blind?
  box No. Go to line 6.
  box Yes. Check if:
   a. You were   box Born before January 2, 1950  box Blind
   b. Your spouse was   box Born before January 2, 1950  box Blind
   c. Total boxes checked in 5a and 5bbox
  Multiply $1,200 ($1,550 if single or head of household) by the number in the box on line 5c5.
6.Standard deduction. Add lines 4 and 5. Enter the result here and on line 2 of your 2014 Estimated Tax Worksheet (Worksheet 2-1) (or line 7 of your 2014 Annualized Estimated Tax Worksheet (Worksheet 2-9)) 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 2-3, line 11).
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Worksheet 2-5.2014 Estimated Tax Worksheet—Line 2
Phaseout of Itemized Deductions

1.Enter the estimated total of your itemized deductions1.
2.Enter the total amount included on line 1 above for medical and dental expenses, investment interest expense, casualty or theft losses of personal use property, casualty and theft losses from income-producing property, and gambling losses 2.
3.Is the amount on line 2 less than the amount on line 1?
No. Stop here. Your deduction is not limited. Enter the amount from line 1 above on line 2 of the 2014 Estimated Tax Worksheet (Worksheet 2-1)
Yes. Subtract line 2 from line 1.
3.
4.Multiply line 3 by 80%4.
5.Enter the amount from line 1 of the 2014 Estimated Tax Worksheet (Worksheet 2-1)5.
6.Enter $305,050 if married filing jointly or qualifying widow(er), $279,650 if head of household, $254,200 if single, $152,525 if married filing separately 6.
7.Is the amount on line 6 less than the amount on line 5?
No. Stop here. Your deduction is not limited. Enter the amount from line 1 above on line 2 of the Estimated Tax Worksheet (Worksheet 2-1).
Yes. Subtract line 6 from line 5.
7.
8.Multiply line 7 by 3% (.03)8.
9.Enter the smaller of line 4 or line 8 9.
10.Total Itemized Deductions. Subtract line 9 from line 1. Enter the result here and on line 2 of your 2014 Estimated Tax Worksheet (Worksheet 2-1) 10.
 
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Worksheet 2-6.2014 Estimated Tax Worksheet—Line 4
Reduction of Exemption Amount

1.Multiply $3,950 by the number of exemptions you plan to claim1.
2.Enter the amount from line 1 of your 2014 Estimated Tax Worksheet (Worksheet 2-1)2.
3.Enter
 $254,200 if single,
 $305,050 if married filing jointly or qualifying widow(er),
 $152,525 if married filing separately, or
 $279,650 if head of household
3.
4.Subtract line 3 from line 24.
5.Is line 4 more than $122,500 (more than $61,250 if married filing separately)?
Yes. You can not take a deduction for exemptions.
No. Divide line 4 by $2,500 ($1,250 if married filing separately). If the result is not a whole number, increase it to the next highest whole number (for example, increase 0.0004 to 1)
5.
6.Multiply line 5 by 2% (.02). Enter the result as a decimal6.
7.Multiply line 1 by line 67.
8.Subtract line 7 from line 1. Enter the result here and on line 4 of your 2014 Estimated Tax Worksheet (Worksheet 2-1).8.
 
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Worksheet 2-7.2014 Estimated Tax Worksheet—Line 6
Qualified Dividends and Capital Gain Tax Worksheet

          
1.Enter the amount from the appropriate worksheet.
  • Line 5 of your 2014 Estimated Tax Worksheet
  • Line 3 of Worksheet 2-8 (use if you will exclude or deduct foreign earned income or housing)
1.    
2.Enter your qualified dividends expected for 201412.      
3.Enter your net capital gain expected for 201413.      
4.Add lines 2 and 34.    
5.Enter your 28% rate gain or loss expected for 201425.      
6.Enter your unrecaptured section 1250 gain expected for 20146.      
7.Add lines 5 and 67.      
8.Enter the smaller of line 3 or line 7 8.    
9.Subtract line 8 from line 49.    
10.Subtract line 9 from line 1. If zero or less, enter -0-10.    
11.Enter the smaller of line 1 or $73,800 ($36,900 if single or married filing separately, or $49,400 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. This is the amount taxed at 0%15.  
  Note. If lines 1 and 11 are the same, skip lines 16 through 36 and go to line 37.   
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.Enter
  • $406,750 if single,
  • $228,800 if married filing separately,
  • $457,600 if married filing jointly or qualifying widow(er), or
  • $432,200 if head of household
19.    
20.Enter the smaller of line 1 or line 19 20.    
21.Add lines 14 and 1521.      
22.Subtract line 21 from line 20, if zero or less enter -0-22.      
23.Enter the smaller of line 18 or line 2223.  
24.Multiply line 23 by 15%24.
25.Add line 17 and line 23. If line 1 equals the sum of lines 21 and 23, then skip lines 26 through 36 and go to line 37.25.    
26.Subtract line 25 from line 1626.  
27.Multiply line 26 by 20%27.
28.Enter the smaller of line 3 or line 6 28.    
29.Add lines 4 and 1429.      
30.Enter the amount from line 1 above30.      
31.Subtract line 30 from line 29. If zero or less, enter -0-31.    
32.Subtract line 31 from line 28. If zero or less, enter -0-32.  
33.Multiply line 32 by 25% (.25)33.
  Note. If line 5 is zero or blank, skip lines 34 through 36 and go to line 37.   
34.Add lines 14, 15, 23, 26, and 3234.  
35.Subtract line 34 from line 135.  
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Worksheet 2-7. 2014 Estimated Tax Worksheet—Line 6
Qualified Dividends and Capital Gain Tax Worksheet (Continued)

36.Multiply line 35 by 28% (.28)36.
37.Figure the tax on the amount on line 14 from the 2014 Tax Rate Schedules37.
38.Add lines 24, 27, 33, 36, and 3738.
39.Figure the tax on the amount on line 1 from the 2014 Tax Rate Schedules39.
40. Tax on all taxable income (including capital gains and qualified dividends). Enter the smaller of line 38
or line 39 here and on line 6 of the 2014 Estimated Tax Worksheet (Worksheet 2-1) (or line 4 of Worksheet 2-8)
40.
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.
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Worksheet 2-8.2014 Estimated Tax Worksheet—Line 6
Foreign Earned Income Tax Worksheet

Before you begin:  If line 5 of your 2014 Estimated Tax Worksheet (Worksheet 2-1) is zero, do not complete this worksheet.
1.Enter the amount from line 5 of your 2014 Estimated Tax Worksheet (Worksheet 2–1)1.
2.Enter the total foreign earned income and housing amount you (and your spouse if filing jointly) expect to exclude or deduct in 2014 on Form 2555 or Form 2555-EZ 2.
3.Add lines 1 and 23.
4.Tax on the amount on line 3. Use the 2014 Tax Rate Schedules or Worksheet 2-7*, as appropriate 4.
5.Tax on the amount on line 2. Use the 2014 Tax Rate Schedules 5.
6.Subtract line 5 from line 4. Enter the result here and on line 6 of your 2014 Estimated Tax Worksheet (Worksheet 2–1). If zero or less, enter -0- 6.
         
*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, subtract line 5 of your 2014 Estimated Tax Worksheet (Worksheet 2-1) 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.
 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.
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Worksheet 2-9. 2014 Annualized Estimated Tax Worksheet

Note. For instructions, see Annualized Income Installment Method.

Before you begin: Complete the 2014 Estimated Tax Worksheet — Worksheet 2-1
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):
2/28/2014, 4/30/2014, 7/31/2014, 11/30/2014.
(a)
1/1/14-3/31/14
(b)
1/1/14-5/31/14
(c)
1/1/14-8/31/14
(d)
1/1/14-12/31/14
 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 23.    
 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 amounts5. 4 2.4 1.5 1
 6.Multiply line 4 by line 5 (if line 3 is more than $152,525, see instructions and Worksheet 2-10)6.    
 7.Standard deduction from Worksheet 2-47.    
 8.Enter the larger of line 6 or line 7 8.    
 9.Subtract line 8 from line 39.    
10.In each column, multiply $3,950 by your total expected number of exemptions (if line 3 is more than $152,525, see instructions and Worksheet 2-11) (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 1314.    
15.Enter nonrefundable credits for each period (see instructions)15.    
16.Subtract line 15 from line 1416.    
17.Self-employment tax from line 41 of Section B17.    
18.Enter other taxes for each period, including, if applicable, Additional Medicare Tax and/or NIIT (see instructions)18.   
19.Total tax. Add lines 16, 17, and 1818.    
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 percentage22. 22.5% 45% 67.5% 90%
23.Multiply line 21 by line 2223.    
 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 2924.    
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 your 2014 Estimated Tax Worksheet (Worksheet 2-1) in each column26.    
27.Subtract line 29 of the previous column from line 28 of that column27.    
28.Add lines 26 and 2728.    
29.Enter the smaller of line 25 or line 28 (see instructions) 29.    
30. Total required payments for the period. Add lines 24 and 2930.    
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.    
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Worksheet 2-9. 2014 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)
1/1/14-3/31/14
(b)
1/1/14-5/31/14
(c)
1/1/14-8/31/14
(d)
1/1/14-12/31/14
33Net earnings from self-employment for the period (see instructions)33    
34Prorated social security tax limit34$29,250$48,750$78,000$117,000
35Enter actual wages for the period subject to social security tax or the 6.2% portion of the tier 1 railroad retirement tax.
Exception: If you file Form 4137 or Form 8919, see instructions
35    
36Subtract line 35 from line 34. If zero or less, enter -0-36    
37Annualization amounts370.4960.29760.1860.124
38Multiply line 37 by the smaller of line 33 or line 36 38    
39Annualization amounts390.1160.06960.04350.029
40Multiply line 33 by line 3940    
41Add lines 38 and 40. Enter the result here and on line 17 of
Section A
41    
42Annualization amounts4284.832
43Deduction for self-employment tax. Divide line 41 by line 42. Enter the result here. Use this result to figure your AGI on line 1 43    
  
  
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Worksheet 2-10. 2014 Annualized Estimated Tax Worksheet—Line 6 Phaseout of Itemized Deductions

1.Enter line 4 of the 2014 Annualized ES Worksheet, Section A (Worksheet 2-9)1.
2.Enter the total amount included on line 1 above for medical and dental expenses, investment interest, casualty or theft losses, and gambling losses (after applying the same limits used in line 1) 2.
3.Subtract line 2 from line 13.
4.Enter line 5 of the 2014 Annualized ES Worksheet, Section A (Worksheet 2-9)4.
5.Multiply line 1 by line 45.
  Note. If line 3 is zero or less, your deduction is not limited. Stop here and enter the amount from line 5 above on line 6 of the 2014 Annualized ES Worksheet, Section A (Worksheet 2-9).   
6.Multiply line 3 by line 46.
7.Multiply line 6 by 80%7.  
8.Enter line 3 of the 2014 Annualized ES Worksheet, Section A (Worksheet 2-9)8.  
9.Enter $305,050 if married filing jointly or qualifying widow(er); $279,650 if head of household; $254,200 if single; or $152,525 if married filing separately 9.  
10.Subtract line 9 from line 8.10.  
 Note. If line 10 is zero or less, your deduction is not limited. Stop here and enter the amount from line 5 above on line 6 of the 2014 Annualized ES Worksheet, Section A (Worksheet 2-9).     
11.Multiply line 10 by 3% (.03)11.  
12.Enter the smaller of line 7 or line 11 12.
13.Total Itemized Deductions. Subtract line 12 from line 5. Enter the result here and in the appropriate column of the 2014 Annualized ES Worksheet, Section A, line 6 (Worksheet 2-9) 13.
 
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Worksheet 2-11. 2014 Annualized Estimated Tax Worksheet—Line 10 Reduction of Exemption Amount

1.Multiply $3,950 by the number of exemptions you plan to claim1.
2.Enter line 3 of the 2014 Annualized ES Worksheet, Section A (Worksheet 2-9)2.
3.Enter the amount shown below for your filing status:
$254,200 if single,
$305,050 if married filing jointly or qualifying widow(er),
$152,525 if married filing separately, or
$279,650 if head of household
3.  
4.Subtract line 3 from line 24.  
5.Is line 4 more than $122,500 (more than $61,250 if married filing separately)?
Yes. You can not take a deduction for exemptions.
No. Divide line 4 by $2,500 ($1,250 if married filing separately). If the result is not a whole number, increase it to the next highest whole number (for example, increase 0.0004 to 1)
5.  
6.Multiply line 5 by 2% (.02). Enter the result as a decimal6.
7.Multiply line 1 by line 67.
8.Deduction for exemptions. Subtract line 7 from line 1. Enter the result here and in the appropriate column of the 2014 Annualized ES Worksheet, Section A, line 10 (Worksheet 2-9) 8.
 
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Worksheet 2-12. 2014 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 2-9 for the same period.
          
1.Enter the amount from the appropriate worksheet.
  • Line 11 of your 2014 Annualized Estimated Tax Worksheet
    (Worksheet 2-9)
  • Line 3 of Worksheet 2-13 (use if you will exclude or deduct foreign earned income or housing)
1.    
2.Enter your annualized qualified dividends expected for 201412.      
3.Enter your annualized net capital gain expected
for 20141
3.      
4.Add lines 2 and 34.    
5.Enter your annualized 28% rate gain or loss expected for 201425.      
6.Enter your annualized unrecaptured section 1250 gain expected for 20146.      
7.Add lines 5 and 67.      
8.Enter the smaller of line 3 or line 7 8.    
9.Subtract line 8 from line 49.    
10.Subtract line 9 from line 1. If zero or less, enter -0-10.    
11.Enter the smaller of line 1 or $73,800 ($36,900 if single or married filing separately, or $49,400 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. This is the amount taxed at 0%15.  
 Note. If lines 1 and 11 are the same, skip lines 16 through 36 and go to line 37.     
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.Enter
  • $406,750 if single,
  • $228,800 if married filing separately,
  • $457,600 if married filing jointly or qualifying widow(er), or
  • $432,200 if head of household
19.    
20.Enter the smaller of line 1 or line 19 20.    
21.Add lines 14 and 1521.      
22.Subtract line 21 from line 20, if zero or less enter -0-22.      
23.Enter the smaller of line 18 or line 2223.  
24.Multiply line 23 by 15%24.
25.Add line 17 and line 23. If line 1 equals the sum of lines 21 and 23, then skip lines 26 through 36 and go to line 3725.    
26.Subtract line 25 from line 1626.  
27.Multiply line 26 by 20%27.
28.Enter the smaller of line 3 or line 6 28.    
29.Add lines 4 and 1429.      
30.Enter the amount from line 1 above30.      
31.Subtract line 30 from line 29. If zero or less, enter -0-31.    
32.Subtract line 31 from line 28. If zero or less, enter -0-32.  
33.Multiply line 32 by 25% (.25)33.
 Note. If line 5 is zero or blank, skip lines 34 through 36 and go to line 37.   
34.Add lines 14, 15, 23, 26, and 3234.  
35.Subtract line 34 from line 135.  
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Worksheet 2-12. 2014 Annualized Estimated Tax Worksheet—Line 12
Qualified Dividends and Capital Gain Tax Worksheet (Continued)

36.Multiply line 35 by 28% (.28)36.
37.Figure the tax on the amount on line 14 from the 2014 Tax Rate Schedules37.
38.Add lines 24, 27, 33, 36, and 3738.
39.Figure the tax on the amount on line 1 from the 2014 Tax Rate Schedules39.
40.Tax on all taxable income (including capital gains and qualified dividends). Enter the smaller of line 38 or
line 39 here and on line 12 of the appropriate column of the 2014 Annualized Estimated Tax Worksheet (or line 4 of
Worksheet 2-13)
40.
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.
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Worksheet 2-13.2014 Annualized Estimated Tax Worksheet—Line 12
Foreign Earned Income Tax Worksheet

Before you begin: If line 11 of Worksheet 2-9 (2014 Annualized Estimated Tax Worksheet) is zero for the period, do not complete this worksheet.
1.Enter the amount from line 11 of your 2014 Annualized Estimated Tax Worksheet for the period1.
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 23.
4.Tax on the amount on line 3. Use the 2014 Tax Rate Schedules or Worksheet 2-12**, as appropriate 4.
5.Tax on the amount on line 2. Use the 2014 Tax Rate Schedules 5.
6.Subtract line 5 from line 4. Enter the result here and on line 12 of your 2014 Annualized Estimated Tax Worksheet (Worksheet 2-9). 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 2-9 for the same period.
** If using Worksheet 2-12 (Qualified Dividends and Capital Gain Tax Worksheet), enter the amount from line 3 above on
line 1 of Worksheet 2-12. Complete Worksheet 2-12 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 2-9 from line 9 of Worksheet 2-12. 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 2-12 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 2-12 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 2-13.
 a. Reduce (but not below zero) the amount you otherwise would enter on line 3 of Worksheet 2-12 by your capital gain excess.
 b. Reduce (but not below zero) the amount you otherwise would enter on line 2 of Worksheet 2-12 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 2-12 by your capital gain excess.
 d. Reduce (but not below zero) the amount you otherwise would enter on line 6 of Worksheet 2-12 by your capital gain excess.