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Example: Jean and Jerry’s 1999 Indiana adjusted gross income was figured

Figure their Indiana adjusted gross income (AGI) for:

using the following information:

• The period 1-1-99 through 3-31-99 (first 3 months (mos) of the year):

3 mos/12 mos (or .25) x $30,000 wage = ......................

$7,500

Jean’s wage income earned evenly

$50 a month interest x 3 months = ................................

150

throughout the year .............................................

$ 30,000

3 mos/12 mos (or .25) x $1500 renter’s deduction = .....

-375

Jerry’s net income from fireworks sales earned

Line 1, Column A Indiana AGI = ..................................

$7,275

in June and July ..................................................

22,000

Total joint interest income ($50 received monthly) ....

600

• The period 1-1-99 through 5-31-99 (first 5 months (mos) of the year):

Renter’s deduction for renting all year .......................

-1,500

5 mos/12 mos (or .42) x $30,000 wage = ....................

$12,600

Indiana adjusted gross income for 1999.....................

*$ 51,100

$50 a month interest x 5 months = ...............................

250

5 mos/12 mos (or .42) x $1500 renter’s deduction = .....

-630

They will have to figure how much wage and interest income was earned on a

Line 1, Column B Indiana AGI = .................................

$12,220

monthly basis, and how much renter’s deduction is available for each month.

Then they can figure the portion of their Indiana adjusted gross income for

• The period 1-1-99 through 8-31-99 (first 8 months (mos) of the year):

each of the time periods shown on line 1, Columns A - D.

8 mos/12 mos (or .67) x $30,000 wage = ......................

$20,100

$50 a month interest x 8 months = ................................

400

*This $51,100 amount will be entered on line 1, Column D of their

Jerry’s net income (all received in June and July) = ......

22,000

Schedule IT-2210A.

8 mos/12 mos (or .67) x $1500 renter’s deduction = .....

-1,005

Line 1, Column C Indiana AGI = ..................................

$41,495

Line 19: Actual Estimated Tax Due: Enter the

Line 4: Exemptions: Enter the total amount of

total payment (line 23) is more than the required

smaller amount from line 14 or line 17 on this line.

payment due (line 19) for an installment period,

exemptions shown on line 12 of Form IT-40 or line

This is the actual amount of estimated tax you

enter the difference on this line. This amount should

10 of Form IT-40PNR. Enter the total amount in

should have paid for this period. Also, enter this

then be added to line 22 in the next column after

each column.

amount on line 13 of the next column. (Because

subtracting any under-payment(s) shown on line

this is subtracted in columns B, C, and D, you will

25 in the previous column(s).

Line 5: Annualized State Taxable Income: Sub-

not pay a penalty on the same underpayment twice.)

tract line 4 from line 3. If the difference is a nega-

Example: Mike had a $100 underpayment on line

tive number, put no entry on this line.

Line 20: Indiana State Tax Withheld: Divide the

25, Column A. He had a $130 overpayment on

amount on line 19 of Form IT-40 or line 17 of Form

line 24, Column B. The net overpayment from the

Line 7: County Income Tax: Multiply the amount

IT-40PNR by four and enter the result in each col-

first two installment periods is $30 ($130 - $100).

on line 5 by your resident county tax rate from line

umn.

He'll add this net overpayment to any estimated

4 of your county tax schedule (CT-40 or CT-

tax paid for the third installment period on line 22,

40PNR) or multiply the amount on line 5 that is

Note: If your withholding should change dur-

Column C.

principal employment income (less allowable

ing the year, please show the increase or de-

exemptions) by the nonresident county tax rate

crease in the period the change occurred.

Note: If, after subtracting any previous

from line 6 of your county tax schedule.

underpayments, this amount is less than zero, no

Line 21: Indiana County Tax Withheld: Divide

overpayment will be available to carry over to the

Line 9: Credits: Enter the applicable portion of

the amount on line 20 of Form IT-40 or line 18 of

next installment period. Also, do not carry over a

credits from lines 22, 23 and 24 of Form IT-40 or

Form IT-40PNR by four and enter the result in each

negative figure if this amount is less than zero. For

lines 20, 21 and 22 of Form IT-40PNR for each

column. See note above.

example, a first period underpayment of $80 plus

period. Example: If you made a contribution to a

a second period overpayment of $50 results in a

college in July, this credit may be taken in Column

Line 22: 1999 Estimated Tax Payments: Enter

$30 net underpayment. This amount is not to be

C and Column D.

the actual amount of estimated taxes paid timely

used to decrease any credits for the next installment

Line 13: Enter the amount (if any) from line 19 of

by the 15th day following the close of the period.

period.

Payments made after the due dates are to be

all preceding columns. Example: To complete line

Line 25: Underpayment: If line 23 is less than

reported in the next column.

13, Column D, add line 19 amounts from Col-

line 19, enter the difference on this line.

umns A, B and C. Enter this amount in Column D.

Note for Early Filers: If you file your individual

Line 26: Add lines 25A + 25B + 25C + 25D and

Line 15: Minimum Tax Due: Enter 25% (.25) of

income tax return and pay the total tax due by Feb-

ruary 1, 2000, you will not be required to make a

enter the total here.

line H (from Section III) in each column.

4th installment estimated tax payment. You should

Line 27: Penalty for the underpayment of

Line 16: Tax Carryover: Enter the amount from

include on line 22, Column D, the amount of tax

you paid with your tax return (Form IT-40 or IT-

estimated tax: Multiply line 26 by 10% (.10).

line 18 of the preceding column. This line keeps

40PNR) minus any household employment tax, use

Enter the amount here and on line 32 of Form IT-

track of the portion of your average tax that was

tax, and/or the amount shown on the return to be

40 or line 30 of Form IT-40PNR. Be sure to attach

not imposed for the previous period.

applied to your 2000 estimated tax account.

Schedule IT-2210A to your income tax return.

Line 24: Installment Period Overpayment: If the

Special instructins for farmers/fishermen.

Enter the amount from line H on line 1, Column D

only. Complete Section IV by entering amounts

on lines 1 through 27, Column D only (leave

Columns A, B and C blank).

Form It-2210a - Annualized Income Schedule For The Underpayment Of Indiana Individual Estimated Tax - Instructions Page 2

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