Form 1040-Es - Estimated Tax Payment Voucher - 2010 Page 7

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2010 Estimated Tax Worksheet
Keep for Your Records
1
1
Adjusted gross income you expect in 2010 (see instructions on page 6)
2
If you plan to itemize deductions, enter the estimated total of your itemized deductions.
2
If you do not plan to itemize deductions, enter your standard deduction from page 2.
3
3
Subtract line 2 from line 1
4
4
Exemptions. Multiply $3,650 by the number of personal exemptions
5
5
Subtract line 4 from line 3
6
Tax. Figure your tax on the amount on line 5 by using the 2010 Tax Rate Schedules on page 8.
Caution: If you will have qualified dividends or a net capital gain, or expect to exclude or deduct
6
foreign earned income or housing, see chapter 2 of Pub. 505 to figure the tax
7
Alternative minimum tax from Form 6251 or the Alternative Minimum Tax Worksheet in the Form
7
1040A instructions
8
Add lines 6 and 7. Add to this amount any other taxes you expect to include in the total on Form
8
1040, line 44, or Form 1040A, line 28
9
9
Credits (see instructions on page 6). Do not include any income tax withholding on this line
10
10
Subtract line 9 from line 8. If zero or less, enter -0-
11
Self-employment tax (see instructions on page 6). Estimate of 2010 net earnings from
self-employment $
; if $106,800 or less, multiply the amount by 15.3%; if more
than $106,800, multiply the amount by 2.9%, add $13,243.20 to the result, and enter the total.
Caution: If you also have wages subject to social security tax or the 6.2% portion of tier 1 Railroad
11
Retirement tax, see chapter 2 of Pub. 505 to figure the amount to enter
12
12
Other taxes (see instructions on page 6)
13a
13a
Add lines 10 through 12
b
Earned income credit, additional child tax credit, making work pay credit, refundable education
13b
credit, and refundable credits from Forms 4136, 5405, 8801, and 8885
13c
c Total 2010 estimated tax. Subtract line 13b from line 13a. If zero or less, enter -0-
14a
14a
Multiply line 13c by 90% (66
2
% for farmers and fishermen)
3
b
Enter the tax shown on your 2009 tax return (see instructions on page
6). Enter 110% of that amount if you are not a farmer or fisherman and
the adjusted gross income shown on that return is more than $150,000
14b
or, if married filing separately for 2010, more than $75,000
14c
c Required annual payment to avoid a penalty. Enter the smaller of line 14a or 14b
Caution: Generally, if you do not prepay (through income tax withholding and estimated tax
payments) at least the amount on line 14c, you may owe a penalty for not paying enough estimated
tax. To avoid a penalty, make sure your estimate on line 13c is as accurate as possible. Even if you
pay the required annual payment, you may still owe tax when you file your return. If you prefer, you
can pay the amount shown on line 13c. For details, see chapter 2 of Pub. 505.
15
Income tax withheld and estimated to be withheld during 2010 (including income tax withholding
15
on pensions, annuities, certain deferred income, etc.)
16a
16a
Subtract line 15 from line 14c
Is the result zero or less?
Yes. Stop here. You are not required to make estimated tax
payments.
No. Go to line 16b.
16b
b Subtract line 15 from line 13c
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, 2010, enter
1
of line 16a (minus any
4
2009 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. (Note: Household employers, see
instructions on page 6.)
17
-7-

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