Estimated Tax Worksheet

 

Basic Filing Information for tax year

Taxpayer's Name: Click here for the
AARP RMD Calculator



Filing Status: TP 65 or older
SP 65 or older
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Check if you will be living with your spouse.
Total Dependents claimed:
Dependents qualified for EIC:
Dependents qualified for CTC:

Estimated Tax Worksheet:

Income: Enter Form 1040 expected amounts:
Wages, salaries, tips, etc from W-2s
Taxable interest
   Tax-exempt interest expected
Ordinary dividends
   Qualified dividends
Self-employment income
Capital gains/loss (Smaller of lines 15 or 16 from Sched D = )
IRAs and Pensions
Amount of social security expected 0
Other income (alimony, royalties, unemployment, etc)
Gross income expected (Expand to enter details.)
Adjustments to Income:
Deductible part of self-employment tax (1/2 of SE tax shown below) 0
Other adjustments expected (ed expense, HSA, IRA ded, student loan int, etc)
Adjusted gross income expected 0
Deductions:
Standard deduction 0
Medical expenses (Actual expenses = )
State income tax or sales tax, and property taxes ($10,000 maximum, $5,000 if MFS)
Interest paid
Gifts to charity
Job expenses and miscellaneous deductions (2% AGI = )
Other miscellaneous deductions (gambling losses)
Medical expenses, investment interest expenses, casualty losses and gambling losses included in the total itemized deductions entered in line above (for AGI > )
Total itemized deductions (Expand to enter details.) (Required to itemize.)
NOTE: Deduction changes beginning in 2018:
  • State and Local Taxes is capped at $10,000 ($5,000 if MFS)
  • Job expenses and other 2% deductions no longer available
Amount after deductions 0
Exemptions:
Exemptions times TBD 0
Taxable income 0
Tax:
Tax from tax tables ( Check to disable Qualified Dividends and Capital Gains worksheet) 0
Enter any additional taxes (Forms 4972, 6251, 8814 or 8889)
Total tax amounts 0
Nonrefundable Credits:
Foreign tax credit
Credit for child and dependent care expenses
Education credits
Retirement savings contributions credit
Child and Family Tax Credit
Residential energy and other credits
Total Nonrefundable credits:
Tax amount after credits 0
Other Taxes:
Self-employment tax NOTE: Effect of pass-through reduction for self-employed income in 2018 is unknown. 0
Other taxes
Total after other taxes 0
Refundable Credits:
Additional Child Tax Credit (NOTE: ACTC capped at $1400/child in 2018)
Earned income tax credit
Other refundable credits (AOC, etc)
Estimated total tax 0
Estimated Payments Needed:
90% of estimated total tax ( 66 2/3% for farmers and fishermen) 0
Enter 100% of last year's income tax ( Check if AGI was > $K)
Choose which to use...
    Smaller of above or ...
    Use % last year's amount from the line above.
    Use 100% estimated total tax from the line above.
0
Income tax withheld and estimated to be withheld
Balance (override if a different amount is desired: ) (Payment not required if less than $1000)
Quarterly amount

Amount of additional income before filing a return is required (e.g. Max IRA distribution) ?

Please send corrections and suggestions to jeff@bogarthome.net