Form 1040-Es - Estimated Tax For Individuals

taxes are not required to be paid until the due date of your

If you did not file a return for 2016 or your 2016 tax year

income tax return (not including extensions).

was less than 12 full months, do not complete line 14b.

Instead, enter the amount from line 14a on line 14c.

Additional Medicare Tax. For information about the

Additional Medicare Tax, see the Instructions for Form

Figuring your 2016 tax. Use the following instructions

8959.

to figure your 2016 tax.

Net Investment Income Tax (NIIT). For information

1. Form 1040—The tax shown on your 2016 Form

about the Net Investment Income Tax, see the

1040 is the amount on line 63 reduced by:

Instructions for Form 8960.

a. Unreported social security and Medicare tax or

Repayment of first-time homebuyer credit. You

RRTA tax from Form 1040, line 58;

must repay the first-time homebuyer credit if you bought

b. Any tax included on line 59 on excess contributions

the home in 2008.

to an IRA, Archer MSA, Coverdell education savings

For details about repaying the first-time homebuyer

account, health savings account, ABLE account, or on

credit, see the instructions for Form 5405.

excess accumulations in qualified retirement plans;

Line 14b. Prior year's tax. Enter the 2016 tax you figure

c. Any shared responsibility payment on line 61;

according to the instructions in Figuring your 2016 tax

d. Amounts on line 62 as listed under Exception 2,

unless you meet one of the following exceptions.

earlier; and

If the adjusted gross income shown on your 2016 return

e. Any refundable credit amounts on lines 66a, 67, 68,

is more than $150,000 ($75,000 if married filing

69, and 72, and credit from Form 8885 included on

separately for 2017), enter 110% of your 2016 tax as

line 73.

figured next.

2. Form 1040A—The tax shown on your 2016 Form

Note. This does not apply to farmers or fishermen.

1040A is the amount on line 39 reduced by the amount on

If you will file a joint return for 2017 but you did not file a

line 38, and any refundable credits on lines 42a, 43, 44,

joint return for 2016, add the tax shown on your 2016

and 45.

return to the tax shown on your spouse's 2016 return and

enter the total on line 14b.

3. Form 1040EZ—The tax shown on your 2016 Form

If you filed a joint return for 2016 but you will not file a

1040EZ is the amount on line 12 reduced by the amount

joint return for 2017, see General Rule in chapter 4 of Pub.

on lines 8a and 11.

505 to figure your share of the 2016 tax to enter on

line 14b.

2017 Self-Employment Tax and Deduction Worksheet for

Keep for Your Records

Lines 1 and 11 of the Estimated Tax Worksheet

1a. Enter your expected income and profits subject to self-employment tax* . . . . . . . . .

1a.

b. If you will have farm income and also receive social security retirement or disability

benefits, enter your expected Conservation Reserve Program payments that will be

included on Schedule F (Form 1040) or listed on Schedule K-1 (Form 1065)

. . . . .

2. Subtract line 1b from line 1a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3. Multiply line 2 by 92.35% (0.9235) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4. Multiply line 3 by 2.9% (0.029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5. Social security tax maximum income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$127,200

6. Enter your expected wages (if subject to social security tax or the 6.2% portion of

tier 1 railroad retirement tax) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Subtract line 6 from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Note. If line 7 is zero or less, enter -0- on line 9 and skip to line 10.

8. Enter the smaller of line 3 or line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9. Multiply line 8 by 12.4% (0.124) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10. Add lines 4 and 9. Enter the result here and on line 11 of your 2017 Estimated Tax Worksheet . . . . . . . . . . . .

10.

11. Multiply line 10 by 50% (0.50). This is your expected deduction for self-employment

tax on Form 1040, line 27. Subtract this amount when figuring your expected AGI on

line 1 of your 2017 Estimated Tax Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11.

* Your net profit from self-employment is found on Schedule C (Form 1040), line 31; Schedule F (Form 1040), line 34; Schedule K-1 (Form 1065), box 14,

code A; and Schedule K-1 (Form 1065-B), box 9, code J1.

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Form 1040-ES (2017)

Form 1040-Es - Estimated Tax For Individuals - 2017 Page 6

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