State Form 48437 - Schedule It-2210a - Annualized Income Schedule For The Underpayment Of Estimated Tax By Individuals - 2014 Page 3
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5Annualized Income Schedule for the
Schedule
IT-2210A
Underpayment of Estimated Tax by Individuals
Who Should File Schedule IT-2210A?
Section II - Required Annual Payments
•
If you filed a 2013 Form IT-40PNR as
Most taxpayers have state and county
Section II will determine if you should
a part-year resident of Indiana, you
income taxes withheld from their income
have paid estimated taxes during the year
must figure the tax for that year on
by their employers; therefore, the income
and the minimum amount required.
an annualized basis. See the instruc-
taxes are usually paid in “even” amounts
tion and Example for when 2013
throughout the year. However, if you are
Line A: 2014 Tax: Add together the state
IT-40PNR was filed as a part-year
self-employed, earn seasonal income,
adjusted gross income tax and county
resident on page 2.
have income which does not have state
income tax from lines 8 and 9 of Form IT-
and county income taxes withheld, or
40 or Form IT-40PNR, plus any recapture
Line H: Minimum required annual
expect to owe more than $1,000 of state
of any CollegeChoice 529 credit from line
payment: Enter the lesser of line D or
and/or county income taxes at the time
4 of Indiana’s Schedule 4 or Schedule E.
line G. If the line G entry is N/A, enter the
you file your annual income tax return,
Enter the total here.
amount from line D on this line.
you might be required to pay estimated
taxes during the tax year. Either Schedule
Line B: 2014 Credits: Add together any
Section III - Annualized Method STOP!
IT-2210 or Schedule IT-2210A are used to
credits from lines 4 through 8 of Indiana’s
Complete lines 1 through 25 for each
determine if you paid enough estimated
Schedule 5 or Schedule F, plus any offset
column, beginning with Column A, before
taxes each period. If you did not, then you
credits from line 13 of Form IT-40 or IT-
going to the next column.
can figure the penalty you might owe for
40PNR. Enter the total here.
the underpayment of the estimated taxes.
Line 1: 2014 Indiana Adjusted Income:
Line D: To determine 90 percent of your
You must use the amount from Form
Schedule IT-2210A or Schedule IT-
total expected tax, multiply line 3 by 90
IT-40 or from Form IT-40PNR, line 5,
2210: Which one to use
percent (.90).
and figure how much of this income was
You should use Schedule IT-2210A to:
earned during each period. Note that each
1) figure your penalty, or 2) to show you
Note: If at least two-thirds of your gross
column includes the income totals from all
paid enough estimated tax for a period
in come is from farming or fishing, multi ply
previous columns. See the example at the
if you received seasonal income (such
line 3 by .667.
top of the next page.
as Christmas tree sales, fireworks sales,
etc.), or a lump sum distribution, and you
Line E: 2014 Withholding: Add together
Line 4: Exemptions: Enter the total
made any estimated tax payments that
any state and county withholding amounts
amount of exemptions shown on line 6 of
coincide with the receipt of that income.
from lines 1 and 2 of Indiana’s Schedule 5
Form IT-40 or Form IT-40PNR. Enter the
If the income you received (on which
or Schedule F. Enter the total here.
total amount in each column.
no Indiana income tax is withheld) is
evenly distributed during the year, such
Line F: Subtract line 5 from line 3. If this
Line 5: Annualized State Taxable Income:
as pension income, then you should file
amount is less than $1,000, you do not
Subtract line 4 from line 3. If the difference
owe a penalty. Stop here and attach a
Schedule IT-2210 instead.
is a negative number, put no entry on this
copy of this schedule to your individual
line.
Farmers and Fishermen: If at least two-
income tax return.
thirds of your income for 2013 or 2014
Line 7: County Income Tax: Multiply
was from farming or fishing, you have
Line G: Prior Year’s Tax Exception: See
the amount on line 5 by your resident
only one payment due date for 2014
if you are eligible for any of the following
county tax rate from line 4 of your county
estimated tax – Jan. 15, 2015.
exceptions.
tax schedule (CT-40 or CT-40PNR)
or multiply the amount on line 5 that
To show you meet this two-thirds rule, do
is principal employment income (less
•
If you filed a 2013 IT-40, add the
not file this schedule. Instead, you must
allowable exemptions) by the nonresident
tax from lines 8 and 9; subtract the
file Schedule IT-2210, and complete the
county tax rate from Section 2, line 6, of
total of the credits on line 13 plus
Section D – Short Method. Get Schedule
Schedule CT-40PNR.
any amounts on Schedule 5, lines
IT-2210 at
4 through 8. Enter the result here.
Line 9: Credits: Enter the applicable
Note: See CAUTION box on page 2.
Section I - Early Filers
portion of credits from lines 4 through 8 of
If you file your individual income tax
Indiana’s Schedule 5 or Schedule F, plus
•
If you filed a 2013 IT-40PNR as
return and pay the tax due by Feb. 2,
any offset credits from line 13 of Form IT-
a full-year nonresident, add the
2015, you will not be required to make a
40 or Form IT-40PNR, for each period.
tax from lines 8 and 9; subtract the
4th installment estimated tax payment.
total of the credits on line 13 plus
For additional information see the
Example: If you made a contribution to
any amounts on Schedule F, lines
instructions for line 22.
a college in July, include this credit in
4 through 8. Enter the result here.
Column C and Column D.
Note: See CAUTION box on page 2.
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