Form 2210 (2005) Page 4. Summary: This is an example of the 2006 Annualized Estimated Tax Worksheet for Figure 4-C, Illustrated Example 2—Annualized
Income
Installment Method. The completed line items are:
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Under
“Section A (For Figuring Your Annualized Estimated Tax Payments)”:
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“1. Adjusted gross income for each period. (Caution: See instructions.) Self-employed: Complete Section B first.”
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“(a) 1/1/06-3/31/06” field contains 12,750
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“(b) 1/1/06-5/31/06” field contains 25,218
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“(c) 1/1/06-8/31/06” field contains 46,409
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“(d) 1/1/06-12/31/06” field contains 78,296
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“3. Annualized income. Multiply line 1 by line 2”
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“(a) 1/1/06-3/31/06” field contains 51,000
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“(b) 1/1/06-5/31/06” field contains 60,523
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“(c) 1/1/06-8/31/06” field contains 69,614
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“(d) 1/1/06-12/31/06” field contains 78,296
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“4. Itemized deductions for period. If you do not expect to itemize, enter 0 and skip to line 7. ”
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“(a) 1/1/06-3/31/06” field contains 1,200
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“(b) 1/1/06-5/31/06” field contains 2,700
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“(c) 1/1/06-8/31/06” field contains 6,400
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“(d) 1/1/06-12/31/06” field contains 10,500
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“6. Multiply line 4 by line 5 (Caution: See instructions and Worksheet 2-9)”
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“(a) 1/1/06-3/31/06” field contains 4,800
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“(b) 1/1/06-5/31/06” field contains 6,480
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“(c) 1/1/06-8/31/06” field contains 9,600
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“(d) 1/1/06-12/31/06” field contains 10,500
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“7. Standard deduction from 2006 tables.”
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“(a) 1/1/06-3/31/06” field contains 10,300
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“(b) 1/1/06-5/31/06” field contains 10,300
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“(c) 1/1/06-8/31/06” field contains 10,300
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“(d) 1/1/06-12/31/06” field contains 10,300
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“8. Enter the larger of line 6 or line 7”
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“(a) 1/1/06-3/31/06” field contains 10,300
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“(b) 1/1/06-5/31/06” field contains 10,300
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“(c) 1/1/06-8/31/06” field contains 10,300
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“(d) 1/1/06-12/31/06” field contains 10,500
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“9. Subtract line 8 from line 3”
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“(a) 1/1/06-3/31/06” field contains 40,700
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“(b) 1/1/06-5/31/06” field contains 50,223
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“(c) 1/1/06-8/31/06” field contains 59,314
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“(d) 1/1/06-12/31/06” field contains 67,796
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“10. Multiply $3,300 by your total expected exemptions. (Caution: See instructions and Worksheet 2-10.)”
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“(a) 1/1/06-3/31/06” field contains 6,600
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“(b) 1/1/06-5/31/06” field contains 6,600
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“(c) 1/1/06-8/31/06” field contains 6,600
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“(d) 1/1/06-12/31/06” field contains 6,600
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“11. Subtract line 10 from line 9”
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“(a) 1/1/06-3/31/06” field contains 34,100
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“(b) 1/1/06-5/31/06” field contains 43,623
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“(c) 1/1/06-8/31/06” field contains 52,714
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“(d) 1/1/06-12/31/06” field contains 61,196
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“12. Tax on the amount on line 11 from the 2006 Tax Rate Schedules. (Caution: See instructions and Worksheet 2-11.)”
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“(a) 1/1/06-3/31/06” field contains 4,360
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“(b) 1/1/06-5/31/06” field contains 5,788
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“(c) 1/1/06-8/31/06” field contains 7,152
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“(d) 1/1/06-12/31/06” field contains 8,424
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“13. Self-employment tax from line 37 of Section B.”
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“(a) 1/1/06-3/31/06” field contains 1,695
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“(b) 1/1/06-5/31/06”field contains 2,035
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“(c) 1/1/06-8/31/06” field contains 3,359
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“(d) 1/1/06-12/31/06” field contains 5,440
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“15. Total tax. Add lines 12, 13, and 14”
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“(a) 1/1/06-3/31/06” field contains 6,055
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“(b) 1/1/06-5/31/06” field contains 7,823
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“(c) 1/1/06-8/31/06” field contains 10,511
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“(d) 1/1/06-12/31/06” field contains 13,864
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“17. Subtract line 16 from line 15. (If zero or less, enter 0.)”
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“(a) 1/1/06-3/31/06” field contains 6,055
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“(b) 1/1/06-5/31/06” field contains 7,823
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“(c) 1/1/06-8/31/06” field contains 10,511
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“(d) 1/1/06-12/31/06” field contains 13,864
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“19. Multiply line 17 by line 18”
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“(a) 1/1/06-3/31/06” field contains 1,362
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“(b) 1/1/06-5/31/06” field contains 3,520
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“(c) 1/1/06-8/31/06” field contains 7,095
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“(d) 1/1/06-12/31/06” field contains 12,478
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“20. Add the amounts on line 25 of all previous columns.”
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“(b) 1/1/06-5/31/06” field contains 1,362
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“(c) 1/1/06-8/31/06” field contains 3,520
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“(d) 1/1/06-12/31/06” field contains 7,095
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“21. Annualized income installment. Subtract line 20 from line 19. (If less than zero, enter 0.)”
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“(a) 1/1/06-3/31/06” field contains 1,362
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“(b) 1/1/06-5/31/06” field contains 2,158
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“(c) 1/1/06-8/31/06” field contains 3,575
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“(d) 1/1/06-12/31/06” field contains 5,383
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“22. Divide line 14c of the Form 1040-ES Estimated Tax Worksheet by 4.”
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“(a) 1/1/06-3/31/06” field contains 3,120
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“(b) 1/1/06-5/31/06” field contains 3,120
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“(c) 1/1/06-8/31/06” field contains 3,120
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“(d) 1/1/06-12/31/06” field contains 3,120
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“23. Subtract line 25 of preceding column from line 24 of preceding column.”
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“(b) 1/1/06-5/31/06” field contains 1,758
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“(c) 1/1/06-8/31/06” field contains 2,720
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“(d) 1/1/06-12/31/06” field contains 2,265
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“24. Add lines 22 and 23.”
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“(a) 1/1/06-3/31/06” field contains 3,120
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“(b) 1/1/06-5/31/06” field contains 4,878
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“(c) 1/1/06-8/31/06” field contains 5,840
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“(d) 1/1/06-12/31/06” field contains 5,385
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“25. Enter the smaller of line 21 or line 24. (Caution: See instructions.)”
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“(a) 1/1/06-3/31/06” field contains 1,362
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“(b) 1/1/06-5/31/06” field contains 2,158
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“(c) 1/1/06-8/31/06” field contains 3,575
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“(d) 1/1/06-12/31/06” field contains 5,383
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“26. Total required payments for the period. Add lines 20 and 25.”
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“(a) 1/1/06-3/31/06” field contains 1,362
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“(b) 1/1/06-5/31/06” field contains 3,520
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“(c) 1/1/06-8/31/06” field contains 7,095
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“(d) 1/1/06-12/31/06” field contains 12,478
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“27. Estimated tax payments made (line 28 of preceding columns) and tax withholding through the due date for the period.”
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“(a) 1/1/06-3/31/06” field contains 1,448
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“(b) 1/1/06-5/31/06” field contains 2,896
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“(c) 1/1/06-8/31/06” field contains 4,968
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“(d) 1/1/06-12/31/06” field contains 8,543
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“28. Estimated tax payment required by the next due date. Subtract line 27 from line 26 and enter the result (but not less
than zero) here and
on your payment voucher.”
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“(a) 1/1/06-3/31/06” field contains 0
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“(b) 1/1/06-5/31/06” field contains 624
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“(c) 1/1/06-8/31/06” field contains 2,127
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“(d) 1/1/06-12/31/06” field contains 3,935
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Under
“Section B (For Figuring Your Annualized Estimated Self-Employment Tax)”:
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“29. Net earnings from self-employment for the period.”
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“(a) 1/1/06-3/31/06” field contains 2,771
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“(b) 1/1/06-5/31/06” field contains 5,541
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“(c) 1/1/06-8/31/06” field contains 14,637
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“(d) 1/1/06-12/31/06” field contains 35,555
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“31. Enter actual wages for the period subject to social security tax or the 6.2% portion of the 7.65% railroad retirement
(tier 1)
tax.”
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“(a) 1/1/06-3/31/06” field contains 0
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“(b) 1/1/06-5/31/06” field contains 0
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“(c) 1/1/06-8/31/06” field contains 0
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“(d) 1/1/06-12/31/06” field contains 0
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“32. Subtract line 31 from line 30. If zero or less, enter 0.”
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“(a) 1/1/06-3/31/06” field contains 23,550
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“(b) 1/1/06-5/31/06” field contains 39,250
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“(c) 1/1/06-8/31/06” field contains 62,800
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“(d) 1/1/06-12/31/06” field contains 94,200
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“34. Multiply line 33 by the smaller of line 29 or line 32.”
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“(a) 1/1/06-3/31/06” field contains 1,374
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“(b) 1/1/06-5/31/06” field contains 1,649
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“(c) 1/1/06-8/31/06” field contains 2,722
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“(d) 1/1/06-12/31/06” field contains 4,409
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“36. Multiply line 29 by line 35.”
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“(a) 1/1/06-3/31/06” field contains 321
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“(b) 1/1/06-5/31/06” field contains 386
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“(c) 1/1/06-8/31/06” field contains 637
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“(d) 1/1/06-12/31/06” field contains 1,031
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“37. Add lines 34 and 36. Enter the result here and on line 13 of Section A.”
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“(a) 1/1/06-3/31/06” field contains 1,695
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“(b) 1/1/06-5/31/06” field contains 2,035
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“(c) 1/1/06-8/31/06” field contains 3,359
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“(d) 1/1/06-12/31/06” field contains 5,440
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“39. Deduction for one-half of self-employment tax. Divide line 37 by line 38. Enter the result here. Also use this result
to figure your
adjusted gross income on line 1.”
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“(a) 1/1/06-3/31/06” field contains 212
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“(b) 1/1/06-5/31/06” field contains 424
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“(c) 1/1/06-8/31/06” field contains 1,120
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“(d) 1/1/06-12/31/06” field contains
2,720
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