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How To Pay Estimated Tax(p31) |
Credit an Overpayment(p31) |
Pay Online(p31) |
Pay by Phone(p32) |
Direct transfer.(p32) |
Debit or credit card.(p32) |
Pay by Check or Money Order Using the Estimated Tax Payment Voucher(p32) |
Do not use the address shown in the Form 1040 or Form 1040A
instructions. |
Joint estimated tax payments.(p32) |
Change of address.(p32) |
IF you need... | THEN use... |
2016 Tax Rate Schedules | 2016 Tax Rate Schedules |
the 2016 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 $155,650—line 2 of ES Worksheet | Worksheet 2-5 |
to reduce your exemption amount because your estimated AGI is more than $155,650—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 2016 Annualized Estimated Tax Worksheet (Annualized ES Worksheet) | Worksheet 2-9 |
to reduce your itemized deductions because your estimated annualized AGI is more than $155,650—line 6 of Annualized ES Worksheet | Worksheet 2-10 |
to reduce your exemption amount because your estimated annualized AGI is more than $155,650—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 |
Schedule X—Use if your
2016 filing status is
Single | Schedule Z— Use if your
2016 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 | $9,275 | 10.0% | $0 | $0 | $13,250 | 10.0% | $0 | ||||||
9,275 | 37,650 | $927.50 | + | 15.0% | 9,275 | 13,250 | 50,400 | $1,325.00 | + | 15.0% | 13,250 | ||
37,650 | 91,150 | 5,183.75 | + | 25.0% | 37,650 | 50,400 | 130,150 | 6,897.50 | + | 25.0% | 50,400 | ||
91,150 | 190,150 | 18,558.75 | + | 28.0% | 91,150 | 130,150 | 210,800 | 26,835.00 | + | 28.0% | 130,150 | ||
190,150 | 413,350 | 46,278.75 | + | 33.0% | 190,150 | 210,800 | 413,350 | 49,417.00 | + | 33.0% | 210,800 | ||
413,350 | 415,050 | 119,934.75 | + | 35.0% | 413,350 | 413,350 | 441,000 | 116,258.50 | + | 35.0% | 413,350 | ||
415,050 | - - - - - - | 120,529.75 | + | 39.6% | 415,050 | 441,000 | - - - - - - | 125,936.00 | + | 39.6% | 441,000 | ||
Schedule Y-1— Use if your
2016 filing status is Married filing jointly or Qualifying widow(er) | Schedule Y-2— Use if your
2016 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 | $18,550 | 10.0% | $0 | $0 | $9,275 | 10.0% | $0 | ||||||
18,550 | 75,300 | $1,855.00 | + | 15.0% | 18,550 | 9,275 | 37,650 | $927.50 | + | 15.0% | 9,275 | ||
75,300 | 151,900 | 10,367.50 | + | 25.0% | 75,300 | 37,650 | 75,950 | 5,183.75 | + | 25.0% | 37,650 | ||
151,900 | 231,450 | 29,517.50 | + | 28.0% | 151,900 | 75,950 | 115,725 | 14,758.75 | + | 28.0% | 75,950 | ||
231,450 | 413,350 | 51,791.50 | + | 33.0% | 231,450 | 115,725 | 206,675 | 25,895.75 | + | 33.0% | 115,725 | ||
413,350 | 466,950 | 111,818.50 | + | 35.0% | 413,350 | 206,675 | 233,475 | 55,909.25 | + | 35.0% | 206,675 | ||
466,950 | - - - - - - | 130,578.50 | + | 39.6% | 466,950 | 233,475 | - - - - - - | 65,289.25 | + | 39.6% | 233,475 | ||
1. | Adjusted gross income you expect in 2016 (see instructions) | 1. | |||||
2. |
| 2. | |||||
3. | Subtract line 2 from line 1 | 3. | |||||
4. | Exemptions. Multiply $4,050 by the number of personal exemptions. Caution: If line 1 is over $155,650, 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
2016 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, net premium tax credit, refundable American opportunity credit, and refundable credit from Form 8885 | 13b. | |||||
c. | Total 2016 estimated tax. Subtract line 13b from line 13a. If zero or less, enter -0- | ▶ | 13c. | ||||
14a. | Multiply line 13c by 90% (0.90) (662/3% (0.6667) 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 2016 (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 18, 2016, enter ¼ of line 16a (minus any 2015 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. |
Note. If you are using this worksheet to estimate your taxable social security or railroad retirement benefits for Worksheet 2-9, 2016 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 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:
| 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 | 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 2016 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 13 | 14. | |
15. | Enter the smaller of line 2 or line 14 | 15. | |
16. | Multiply line 12 by 85% (0.85). If line 12 is zero, enter -0- | 16. | |
17. | Add lines 15 and 16 | 17. | |
18. | Multiply line 1 by 85% (0.85) | 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 2016 Estimated Tax Worksheet (Worksheet 2-1) (or Annualized Estimated Tax Worksheet (Worksheet 2-9)) | 20. |
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% (0.9235). 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% (0.029) | 4. | ||||
5. | Maximum income subject to social security tax | 5. | $118,500 | |||
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 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 12.4% (0.124) | 9. | ||||
10. | Add line 4 and line 9. Enter the result here and on line 11 of your 2016 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% (0.50). 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 2016 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). |
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—$6,300 | |||||||||
• Married filing jointly or Qualifying widow(er)—$12,600 | |||||||||
• Head of household—$9,300 | 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 $700? | ||||||||
Yes. | Add $350 to your earned income. Enter the total. | ||||||||
No. | Enter $1,050 | 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, 1952, or blind? | ||||||||
No. | Go to line 6. | ||||||||
Yes. | Check if: | ||||||||
a. You were Born before January 2, 1952 Blind | |||||||||
b. Your spouse was Born before January 2, 1952 Blind | |||||||||
c. Total boxes checked in 5a and 5b | |||||||||
▶ | Multiply $1,250 ($1,550 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 2016 Estimated Tax Worksheet (Worksheet 2-1) (or line 7 of your 2016 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 taxable scholarships and fellowship grants. Reduce your earned income by your allowed deduction for self-employment tax (Worksheet 2-3, line 11). |
1. | Enter the estimated total of your itemized deductions | 1. | ||
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 2016 Estimated Tax Worksheet (Worksheet 2-1). ❑ Yes. Subtract line 2 from line 1 | 3. | ||
4. | Multiply line 3 by 80% (0.80) | 4. | ||
5. | Enter the amount from line 1 of the 2016 Estimated Tax Worksheet (Worksheet 2-1) | 5. | ||
6. | Enter $311,300 if married filing jointly or qualifying widow(er), $285,350 if head of household, $259,400 if single, $155,650 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% (0.03) | 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 2016 Estimated Tax Worksheet (Worksheet 2-1) | 10. | ||
1. | Multiply $4,050 by the number of exemptions you plan to claim | 1. | ||
2. | Enter the amount from line 1 of your 2016 Estimated Tax Worksheet (Worksheet 2-1) | 2. | ||
3. | Enter $259,400 if single, $311,300 if married filing jointly or qualifying widow(er), $155,650 if married filing separately, or $285,350 if head of household | 3. | ||
4. | Subtract line 3 from line 2 | 4. | ||
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% (0.02). Enter the result as a decimal | 6. | ||
7. | Multiply line 1 by line 6 | 7. | ||
8. | Subtract line 7 from line 1. Enter the result here and on line 4 of your 2016 Estimated Tax Worksheet (Worksheet 2-1) | 8. | ||
1. | Enter the amount from the appropriate worksheet.
| 1. | |||||||
2. | Enter your qualified dividends expected for 2016^{1} | 2. | |||||||
3. | Enter your net capital gain expected for 2016^{1} | 3. | |||||||
4. | Add lines 2 and 3 | 4. | |||||||
5. | Enter your 28% rate gain or loss expected for 2016^{2} | 5. | |||||||
6. | Enter your unrecaptured section 1250 gain expected for 2016 | 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 $75,300 ($37,650 if single or married filing separately, or $50,400 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:
| 19. | |||||||
20. | Enter the smaller of line 1 or line 19 | 20. | |||||||
21. | Add lines 14 and 15 | 21. | |||||||
22. | Subtract line 21 from line 20. If zero or less, enter -0- | 22. | |||||||
23. | Enter the smaller of line 18 or line 22 | 23. | |||||||
24. | Multiply line 23 by 15% (0.15) | 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 16 | 26. | |||||||
27. | Multiply line 26 by 20% (0.20) | 27. | |||||||
28. | Enter the smaller of line 3 or line 6 | 28. | |||||||
29. | Add lines 4 and 14 | 29. | |||||||
30. | Enter the amount from line 1 above | 30. | |||||||
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% (0.25) | 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 32 | 34. | |||||||
35. | Subtract line 34 from line 1 | 35. |
36. | Multiply line 35 by 28% (0.28) | 36. | ||
37. | Figure the tax on the amount on line 14 from the 2016 Tax Rate Schedules | 37. | ||
38. | Add lines 24, 27, 33, 36, and 37 | 38. | ||
39. | Figure the tax on the amount on line 1 from the 2016 Tax Rate Schedules | 39. | ||
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 2016 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. |
Before you begin: If line 5 of your 2016 Estimated Tax Worksheet (Worksheet 2-1) is zero, do not complete this worksheet. | ||||||||
1. | Enter the amount from line 5 of your 2016 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 2016 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 2016 Tax Rate Schedules or Worksheet 2-7*, as appropriate | 4. | ||||||
5. | Tax on the amount on line 2. Use the 2016 Tax Rate Schedules | 5. | ||||||
6. | Subtract line 5 from line 4. Enter the result here and on line 6 of your 2016 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 2016 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. | ||||||||
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. |
Before you begin:
Complete the 2016 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):
2/29/2016, 4/30/2016, 7/31/2016, 11/30/2016. |
(a)
1/1/16-3/31/16 |
(b)
1/1/16-5/31/16 |
(c)
1/1/16-8/31/16 |
(d)
1/1/16-12/31/16 | |||
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 (if line 3 is more than $155,650, see instructions and Worksheet 2-10) | 6. | |||||
7. | Standard deduction from Worksheet 2-4 | 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 $4,050 by your total expected number of exemptions (if line 3 is more than $155,650, 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 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, including, if applicable, Additional Medicare Tax and/or NIIT (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% (0.25) of line 14c of your 2016 Estimated Tax Worksheet (Worksheet 2-1) 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. |
Section B (For Figuring Your Annualized Estimated Self-Employment Tax) — Complete each column after end of period shown. | ||||||
(Form 1040 filers only) |
(a)
1/1/16-3/31/16 |
(b)
1/1/16-5/31/16 |
(c)
1/1/16-8/31/16 |
(d)
1/1/16-12/31/16 | ||
33. | Net earnings from self-employment for the period (see instructions) | 33. | ||||
34. | Prorated social security tax limit | 34. | $29,625 | $49,375 | $79,000 | $118,500 |
35. | Enter 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. | ||||
36. | Subtract line 35 from line 34. If zero or less, enter -0- | 36. | ||||
37. | Annualization amounts | 37. | 0.496 | 0.2976 | 0.186 | 0.124 |
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. | Annualization amounts | 42. | 8 | 4.8 | 3 | 2 |
43. | Deduction 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. |
1. | Enter line 4 of the 2016 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 1 | 3. | ||||
4. | Enter line 5 of the 2016 Annualized ES Worksheet, Section A (Worksheet 2-9) | 4. | ||||
5. | Multiply line 1 by line 4 | 5. | ||||
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 2016 Annualized ES Worksheet, Section A (Worksheet 2-9). | ||||||
6. | Multiply line 3 by line 4 | 6. | ||||
7. | Multiply line 6 by 80% (0.80) | 7. | ||||
8. | Enter line 3 of the 2016 Annualized ES Worksheet, Section A (Worksheet 2-9) | 8. | ||||
9. | Enter $311,300 if married filing jointly or qualifying widow(er); $285,350 if head of household; $259,400 if single; or $155,650 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 2016 Annualized ES Worksheet, Section A (Worksheet 2-9). | ||||||
11. | Multiply line 10 by 3% (0.03) | 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 2016 Annualized ES Worksheet, Section A, line 6 (Worksheet 2-9) | 13. | ||||
1. | Multiply $4,050 by the number of exemptions you plan to claim | 1. | ||||
2. | Enter line 3 of the 2016 Annualized ES Worksheet, Section A (Worksheet 2-9) | 2. | ||||
3. | Enter the amount shown below for your filing status: $259,400 if single, $311,300 if married filing jointly or qualifying widow(er), $155,650 if married filing separately, or $285,350 if head of household | 3. | ||||
4. | Subtract line 3 from line 2 | 4. | ||||
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% (0.02). Enter the result as a decimal | 6. | ||||
7. | Multiply line 1 by line 6 | 7. | ||||
8. | Deduction for exemptions. Subtract line 7 from line 1. Enter the result here and in the appropriate column of the 2016 Annualized ES Worksheet, Section A, line 10 (Worksheet 2-9) | 8. | ||||
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.
| 1. | |||||||
2. | Enter your annualized qualified dividends expected for 2016^{1} | 2. | |||||||
3. | Enter your annualized net capital gain expected
for 2016^{1} | 3. | |||||||
4. | Add lines 2 and 3 | 4. | |||||||
5. | Enter your annualized 28% rate gain or loss expected for 2016^{2} | 5. | |||||||
6. | Enter your annualized unrecaptured section 1250 gain expected for 2016 | 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 $75,300 ($37,650 if single or married filing separately, or $50,400 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:
| 19. | |||||||
20. | Enter the smaller of line 1 or line 19 | 20. | |||||||
21. | Add lines 14 and 15 | 21. | |||||||
22. | Subtract line 21 from line 20. If zero or less, enter -0- | 22. | |||||||
23. | Enter the smaller of line 18 or line 22 | 23. | |||||||
24. | Multiply line 23 by 15% (0.15) | 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 16 | 26. | |||||||
27. | Multiply line 26 by 20% (0.20) | 27. | |||||||
28. | Enter the smaller of line 3 or line 6 | 28. | |||||||
29. | Add lines 4 and 14 | 29. | |||||||
30. | Enter the amount from line 1 above | 30. | |||||||
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% (0.25) | 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 32 | 34. | |||||||
35. | Subtract line 34 from line 1 | 35. |
36. | Multiply line 35 by 28% (0.28) | 36. | ||
37. | Figure the tax on the amount on line 14 from the 2016 Tax Rate Schedules | 37. | ||
38. | Add lines 24, 27, 33, 36, and 37 | 38. | ||
39. | Figure the tax on the amount on line 1 from the 2016 Tax Rate Schedules | 39. | ||
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 2016 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. |
Before you begin: | If line 11 of Worksheet 2-9 (2016 Annualized Estimated Tax Worksheet) is zero for the period, do not complete this worksheet. | |||||||
1. | Enter the amount from line 11 of your 2016 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 2016 Tax Rate Schedules or Worksheet 2-12**, as appropriate | 4. | ||||||
5. | Tax on the amount on line 2. Use the 2016 Tax Rate Schedules | 5. | ||||||
6. | Subtract line 5 from line 4. Enter the result here and on line 12 of your 2016 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. |
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