Form 1040-ES: Estimated Tax for Individuals

About this Form:

Form 1040-ES is used to figure and pay your estimated taxes.

How do I fill out Form 1040-ES?

Estimated tax payments are due four times in a year. Using the calendar year, taxpayers the due dates are April 15, June 15, September 15 of the current year and January 15 of the following year. If you work on a fiscal year calendar and the year does not run from January 1 to December 31, then the four due dates are spread through the fiscal year, on the 15th day of the fourth, sixth and ninth month of the year and on the 15th of the first month of the next fiscal year. Note that you can pay weekly, biweekly, or any other intervals that work for you, as long as you pay the full amount due for that period. Another option is to estimate your tax liability for the whole year and pay it at once by the 15th of April of the current year. Start on page 6; the Self-Employment Tax and Deduction Worksheet for Lines 1 and 9 of the Estimated Tax Worksheet. This portion of the 1040es determines the amount to subtract from your adjusted gross income, which begins on page 8. Starting on line 1a, fill in your expected income and profits that is subject to self-employment tax. This information can be found on Schedule C (Form 1040), line 31; Schedule F (Form 1040), line 34; and Schedule K-1 (Form 1065), box 14, code A. Fill in line b if you expect to have farm income and will also receive social security retirement or disability benefits. You want to enter your expected Conservation Reserve Program payments that will be included on Schedule F (Form 1040) or listed on Schedule K-1 (Form 1065). Subtract line 1b from line 1a and enter that number on line 2. Take the number from line 2 and multiply it by 92.35%, which is 0.9235, and enter the result on line 3. Now, using the number from line 3, multiply it by 2.9%, which is 0.029, and enter the result on line 4. Line 5 is already filled in with the social security tax maximum income for the year, $132,900. Skip to line 6 and enter your expected wages for the year. For line 7 you are going to enter the result of subtracting line 6 from line 5; $132,900 - expected wages. It is important to note that if line 7 is zero or less, enter -0- on line 9 and skip to line 10. Line 8 needs you to enter the smaller number between lines 3 and 7. If line 3 is less than line 7, enter line 3’s number on line 8, if line 7 is less than line 3, enter line 7’s number on line 8. Line 9 is the result of line 8 multiplied line 8 by 12.4%, which is 0.124. Line 10 is the result of adding lines 4 and 9 together. Enter the result on line 10 on this page as well as line 9 of your 2019 Estimated Tax Worksheet, which is on page 8. Finally, take the number from line 10 and multiply it by 50%, which is 0.50. The result is your expected deduction for self-employment tax on Schedule 1 (Form 1040), line 27. Subtract this amount to figure out your expected AGI on line 1 of the current year’s Estimated Tax Worksheet. Now we can begin filling out page 8. Starting at the top on line 1, enter your adjusted gross income that you expect for the current year. On line 2a, enter your deductions. If you plan to itemize deductions, enter the estimated total of your itemized deductions. These include qualifying home mortgage interest, charitable contributions, state and local taxes (up to $10,000), and medical expenses in excess of 10% of your income. If you don’t plan to itemize deductions, enter your standard deduction. On line 2b, enter the estimated amount of the deduction if you qualify for the business income deduction. Add lines 2a and 2b together and enter that total on line 2c. Line 3 is asking for the result of line 2c minus line 1. Take the result of line 3, and figure your tax on the amount by using the current year’s Tax Rate Schedule, enter that tax amount on line 4. On line 5 enter your alternative minimum tax that can be found on Form 6251. For line 6, you want to add lines 4 and 5 together and include any other taxes you expect to include in the total on Form 1040, line 12a. Enter your credits on line 7 and do not include any income tax withholdings. For line 8, subtract line 7 from line 6. If zero or less, enter 0 on line 8. Enter your self-employment tax on line 9 and other taxes on line 10. On line 11a, add lines 8-10. On line 11b, enter the earned income credit, additional child tax credit, fuel tax credit, net premium tax credit, refundable American opportunity credit, and refundable credits found on Form 8885. Line 11c want the results of subtracting line 11b from line 11a. If the result is zero or less, enter 0 on line 11c. Take the amount entered from 11c and multiply it by 90% (66 2/3% for farmers and fishermen), and enter the result on line 12a. Enter the smaller of line 12a or 12b on line 12c. Enter your income tax withheld and estimated to be withheld during 2019 (including income tax withholding on pensions, annuities, certain deferred income, etc.) on line 13. On line 14a, you need to subtract line 13 from line 12c and enter the result. Is the result is zero or less you are not required to make estimated tax payments. If the result is more than zero, move to line 14b. For line 14b you need to subtract line 13 from line 11c. If the result less than $1,000, you are not required to make estimated tax payments. If the amount is over $1000, move to the final line, 15. If the first payment you are required to make is due April 15, enter ¼ of line 14a minus any previous year’s overpayment that you are applying to this installment here, and on your estimated tax payment voucher(s) if you are paying by check or money order. You have now completed Estimated Tax Worksheet, and can fill in your vouchers.  

Form 1040-ES: Estimated Tax for Individuals: FAQs

  • You must file the Form 1040 ES if your estimated tax due is $1,000 or more or if the total amount of your tax withholding and refundable credits is less than the smaller of 90% of your 2019 tax liability or 100% of your 2018 tax liability.

  • Form 1040-ES to figure and pay your estimated tax for the year. Estimated tax is the method used to pay tax on income that isn't subject to withholding.

  • U.S. citizens and resident aliens, esidents of Puerto Rico, the U.S. Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa, and nonresident aliens must use Form 1040-ES.

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