Form 10 - Oregon Underpayment Of Oregon Estimated Tax - 2011 Page 6

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Estimating your 2012 tax payments
Example 3: Generally, home mortgage interest is a deduction
paid evenly throughout the year. Three months of home
You can use the Annualized Income Worksheet as a guide
mortgage interest belong in column A (January, February,
to compute your 2012 annualized estimated tax payments.
and March), five months in column B, eight months in col-
Follow the instructions provided for the worksheet. When
umn C, and all 12 months of interest in column D.
completing the worksheet, be sure to use the 2012 figures for
the Oregon exemption credit, federal tax subtraction, and
Example 4: Medical expenses claimed as medical deductions
tax rate charts. You can find these in our publication, Oregon
generally are not incurred evenly throughout the tax year.
2012 Instructions for Estimated Income Tax and Form 40-ESV
For example, Jill made deductible payments on a hospital
Payment Voucher. To order, call the numbers listed below.
bill in 2011. She made a payment of $990 in April, another
When completing the Annualized Income Worksheet, line
of $1,995 in June, and the final payment of $2,271 in October.
25, enter all previous 2012 estimated tax payments in col-
(All amounts are after the 7.5 percent federal AGI limitation.)
umns B, C, and D. Do not complete the worksheet past line
Jill will enter the $990 payment in column B. The April pay-
26. This is your required estimated tax payment for each
ment plus the June $1,995 payment (totaling $2,985) will go
period of 2012. Questions? See below for numbers to call.
in column C. In column D, she will enter $5,256, the total
Have questions? Need help?
deductible amount of all three payments.
Line 14. If you are married/RDP filing separately and your
General tax information ......................
spouse/RDP itemizes deductions, the amount on this line is
Salem ................................................................. 503-378-4988
Toll-free from an Oregon prefix .................. 1-800-356-4222
-0-. You must itemize your deductions.
Asistencia en español:
Line 18. Use the tax tables or tax rate chart in your 2011
En Salem o fuera de Oregon .......................... 503-378-4988
Oregon income tax booklet. Line 17 is your annualized
Gratis de prefijo de Oregon ........................ 1-800-356-4222
Oregon taxable income for each column.
TTY (hearing or speech impaired; machine only):
Line 20. Enter credit amounts that apply only to each period.
Salem area or outside Oregon ....................... 503-945-8617
Toll-free from an Oregon prefix .................. 1-800-886-7204
Example 5: Sam installed a residential alternative energy
device on September 4. He qualifies for a credit of $160. Sam
Americans with Disabilities Act (ADA): Call one of the help
includes $160 in column D only.
numbers above for information in alternative formats.
150-101-031 (Rev. 12-11)
6

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