Form Esw - Montana Individual Estimated Income Tax Worksheet - 2011

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Clear Form

MONTANA

ESW

2011 Montana Individual Estimated

Rev 08 10

Income Tax Worksheet

Keep this worksheet for your records

To estimate your 2011 income tax due, you may use your 2010 income tax due from Form 2, line 54, Form 2M, line 47

or Form 2EZ, line 15. If you choose this method, skip lines 1 through 8 and enter your 2010 tax due on line 9b below,

otherwise begin with line 1.

1. Enter your 2011 estimated Montana adjusted gross income here .................................................. 1.

2. Enter the estimated amount of your:

a. 2011 itemized deductions or standard deduction. (If you are using the

standard deduction enter 20% (0.20) of line 1, but not less than $1,770 or

more than $3,990 if your ﬁ ling status is single, or not less than $3,540 or

more than $7,980 if your ﬁ ling status is jointly or head of household.) ........ 2a.

b. 2011 exemptions. (Multiply $2,130 times the number of your allowable

exemptions and enter the result here.) ....................................................... 2b.

Add lines 2a and 2b and enter the result here ................................................................................ 2.

3. Subtract line 2 from line 1 and enter the result here. This is your 2011 estimated taxable income.

If the result is zero or less, stop here. You are not subject to estimated tax payments in 2011 ..........3.

4. Calculate your estimated 2011 income tax:

a. Multiply the amount on line 3 using the tax table on the back of this form

and enter the result here .............................................................................. 4a.

b. If you have net capital gains included in your estimated Montana adjusted

gross income on line 1, multiply the net capital gains amount by 2% (0.02)

and enter the result here .............................................................................. 4b.

Subtract line 4b from 4a and enter the result here. This is your 2011 estimated resident tax

after capital gains tax credit. ........................................................................................................ 4.

5. Enter your 2011 estimated nonrefundable single-year credits and carryover credits here .............. 5.

6. Subtract line 5 from line 4 and enter the result here. This is your 2011 estimated total tax after

nonrefundable credits. .................................................................................................................. 6.

7. Enter your estimated 2011 recapture taxes here ............................................................................. 7.

8. Add lines 6 and 7 and enter the result here. This is your 2011 estimated total tax due. ............ 8.

9. a. Multiply line 8 by 90% (0.90) and enter the result here ................................ 9a.

b. Enter 100% of the tax due shown on your 2010 income tax return Form 2,

line 54 (add columns A and B), Form 2M, line 47, or Form 2EZ, line 15 ...... 9b.

Enter the smaller of line 9a or 9b. If you are unable to compute line 9a, enter the amount

from line 9b. ..................................................................................................................................... 9.

10. a. Enter the estimated amount of your Montana income tax and mineral

royalty tax withholding in 2011. (Examples include withholding on wages,

pensions, annuities, pass-through entities, etc.) ....................................... 10a.

b. Enter the amount of your 2010 overpayment that was applied to your

2011 income tax ......................................................................................... 10b.

c. Enter the estimated amount of your 2011 refundable credits. This includes

your elderly homeowner/renter credit, ﬁ lm employment production credit,

ﬁ lm qualiﬁ ed expenditure credit, Insure Montana credit and temporary

emergency lodging credit ........................................................................... 10c.

Add lines 10a, 10b, and 10c and enter the result here. This is your 2011 estimated payments. ..10.

11. Subtract line 10 from line 8. If the result is less than $500, stop here; you are not subject to

estimated tax payments in 2011. If the result is $500 or more, subtract line 10 from line 9 and enter