Instructions For 2003 Form 10 - Underpayment Of 2003 Oregon Estimated Tax Page 3
ADVERTISEMENT
1
2
3
415, 2004, enter the date you made the payment. If you paid
Column D:
the underpayment after April 15, 2004, enter April 15, 2004.
Line 13. Enter the amount (if any) from line 15 of column C.
Line 18. Enter the number of full months from the payment
Line 14. Add lines 12 and 13 and enter the amount here. Is line
period due date on line 10 to the date of payment on line 17,
14 more than line 11? If yes, go to line 15. If no, go to line 16.
or January 15, 2004, whichever is earlier.
Line 15. You paid more than the required installment for this
Line 20. Enter the number of days remaining until the date you
period. Enter the result of line 14 minus line 11 here. Go to
made your payment, or January 15, 2004, whichever is earlier.
the instructions for line 17.
Line 22. Enter the number of full months after January 15,
Line 16. You have an underpayment for this period. Enter
2004 to the date of payment on line 17.
the result of line 11 minus line 14 here. Go to the instructions
Line 24. Enter the number of days after January 15, 2004 to
for line 17.
the date of payment on line 17.
Example: If you didn’t pay the estimated tax that was due
PART C—Figure your interest
on April 15, 2003 until June 6, 2003, count this way:
Line 17. Your payment will be applied to the oldest under-
April 16 to May 15 = 1 month ( from line 18, column A)
payment first. If you paid the underpayment before April
May 16 to June 6 = 22 days (from line 20, column A)
Instructions For Annualized Income Worksheet
(Form 10, page 2)
Note: Part-year residents. Start with the column that corre-
If Scott received the lump sum distribution on April 26, 2003
sponds to the date you moved to Oregon. You must multi-
instead, he includes it in columns B, C, and D.
ply your exemption credit, prorated credits, and Oregon tax
Line 2. Enter the amount of Oregon additions claimed dur-
by your annualized Oregon percentage.
ing the period shown at the top of each column.
Nonresidents. You must multiply your federal tax subtraction,
Example: Carol has an Oregon addition of $6,000 for Califor-
itemized deductions or standard deduction, exemption credit,
nia bond interest received in September 2003. Carol enters the
and prorated credits by your annualized Oregon percentage.
$6,000 in column D. If she received the interest at $500 a month,
Line 1. Enter your adjusted gross income (AGI) earned or
she would enter $1,500 (for three months) in column A, $2,500
received during the period shown at the top of each column
(for five months) in column B, $4,000 (for eight months) in col-
(Form 40, line 8; Form 40N, line 30b; or Form 40P, line 30a).
umn C, and the $6,000 in column D (for 12 months).
Example: Scott received wages for the entire year of 2003.
Line 6. Enter the amount of Oregon subtractions claimed
Three months wages belong in column A, five months in
during the period shown at the top of each column.
column B, eight months in column C, and all 12 months in
Line 9. Compute your federal tax subtraction on your an-
column D. He also received a lump sum distribution of
nualized income using the Federal Tax Subtraction Work-
$25,000 from his IRA on July 19, 2003. Scott includes the
total amount of the distribution in columns C and D only.
sheet below.
(C)
(D)
(A)
(B)
Federal Tax Subtraction Worksheet (line 9 )
Jan 1
Jan 1
Jan 1
Jan 1
to
to
to
to
Mar 31
May 31
Aug 31
Dec 31
1. Enter the amount of your federal AGI for each period ................. 1
2.4
1.5
1
4
2. Annualization amounts ..................................................................... 2
3. Multiply line 1 by line 2 ..................................................................... 3
4. Actual federal itemized deductions for each period.
If you do not itemize, skip to line 7 of this worksheet .................. 4
4
1.5
1
2.4
5. Annualization amounts ..................................................................... 5
6. Multiply line 4 by line 5 ..................................................................... 6
7. Enter the full amount of your 2003 federal standard
deduction in each column ................................................................. 7
(
) (
) (
) (
)
8. Enter line 6 or line 7, whichever is larger ........................................ 8
9. Line 3 minus line 8 .............................................................................. 9
10. 2003 federal exemption amount (Form 1040, line 39,
(
) (
) (
) (
)
or Form 1040A, line 26) ................................................................... 10
11. Annualized federal taxable income. Line 9 minus line 10 ........... 11
12. Federal tax on line 11 amount for each
period (use the federal tax tables) .................................................. 12
13. Enter $1,750 if you are married filing separately
or $3,500 for any other filing status in each column ................... 13
14. Enter the smaller of line 12 or 13. Also enter this amount in
each column on line 9 of the Annualized Income Worksheet .... 14
3
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial