Publication 505 - Tax Withholding And Estimated Tax Page 29
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49Unemployment
withholding for the period, $1,350. The Joneses
For the second period, as for the first, the
compensation . . . . . .
600
600
600
enter $1,449 on line 25c.
annualized income installment method allows
Anne’s net profit from
On line 25d, the Joneses’ required estimated
the Joneses to pay less than their required pay-
self-employment . . . .
6,000
15,850
38,500
tax payment for the period under the annualized
ment under the regular installment method of
Net rental income . . .
668
2,671
2,671
income installment method is $0 ($1,278 −
figuring estimated tax payments. They make up
Interest income . . . . .
850
1,450
2,300
$1,449). They do not have a Form 1040 – ES
the difference in the third and fourth periods
Dividends . . . . . . . .
674
1,708
3,745
Total . . . . . . . . . . . $20,592 $41,479 $77,016
payment-voucher due April 15, 2002.
when their income is higher.
Because the Joneses are using the annual-
They also take into account the following
ized income installment method, they will file
items for each period:
Second, Third, and
Form 2210 with their tax return for 2002.
Fourth Periods
Second
Third
Fourth
Jan. 1- Jan. 1- Jan. 1-
May 31 Aug. 31 Dec. 31
After the end of each remaining payment period,
Adjustment to income for
the Joneses complete the column of the work-
IRA contributions . . . . . .
$ 250
$ 400 $1,000
sheet for that period (from the beginning of the
Itemized deductions . . . .
2,700
6,400
8,300
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
Third
Fourth
Jan. 1-
Jan. 1-
Jan. 1-
May 31
Aug. 31 Dec. 31
Larry’s salary . . . . . . $11,800 $19,200 $29,200
Chapter 2 Estimated Tax for 2002
Page 29
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