Publication 505 - Tax Withholding And Estimated Tax Page 25
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49Worksheet 2.10. 2003 Annualized Estimated Tax Worksheet
(Note: For instructions, see Annualized Income Installment Method
in Chapter 2.)
Section A (For Figuring Your Annualized Estimated Tax Payments)—Complete each column after end of period shown.
Estates and trusts: Use the following ending dates in each
1/1/03 to
1/1/03 to
1/1/03 to
1/1/03 to
column—2/28, 4/30, 7/31, 11/30.
3/31/03
5/31/03
8/31/03
12/31/03
1
Adjusted gross income for each period. (Caution: See
instructions.) Self-employed: Complete Section B first.
1
2
Annualization amounts.
2
4
2.4
1.5
1
3
Annualized income. Multiply line 1 by line 2.
3
4
Itemized deductions for period. If you do not expect to
itemize, enter zero and skip to line 7.
4
5
Annualization amounts.
5
4
2.4
1.5
1
6
Multiply line 4 by line 5. (Caution: See instructions and
Worksheet 2.7.)
6
7
Standard deduction from 2003 tables.
7
8
Enter the larger of line 6 or line 7.
8
9
Subtract line 8 from line 3.
9
10
Multiply $3,050 by your total expected exemptions.
(Caution: See instructions and Worksheet 2.8.)
10
11
Subtract line 10 from line 9.
11
12
Tax on the amount on line 11 from the 2003 Tax Rate
Schedules. (Caution: See instructions and Worksheet
2.9.)
12
13
Self-employment tax from line 34a of Section B.
13
14
Other taxes for each payment period.
14
15
Total tax. Add lines 12, 13, and 14.
15
16
Credits for each period.
16
17
Subtract line 16 from line 15. (If less than zero, enter
zero.)
17
18
Applicable percentage.
18
22.5%
45%
67.5%
90%
19
Multiply line 17 by line 18.
19
20
Add amounts on line 25a of all preceding columns.
20
21
Annualized income installment. Subtract line 20 from
line 19. (If less than zero, enter zero.)
21
22
Divide line 14c of the Form 1040-ES Estimated Tax
Worksheet by 4.
22
23
Subtract line 25a of preceding column from line 24 of
preceding column.
23
24
Add lines 22 and 23.
24
25a
Enter the smaller of line 21 or line 24. (Caution: See
instructions.)
25a
b Total required payments for the period. Add lines 20
and 25a.
25b
c Estimated tax payments made (line 25d of all previous
columns) and tax withholding through the due date for
the period.
25c
d Estimated tax payment required by the next due date.
Subtract line 25c from line 25b and enter the result (but
not less than zero) here and on your payment-voucher. 25d
Chapter 2 Estimated Tax for 2003
Page 25
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