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Indiana Annualized Schedule for Underpayment of Estimated Tax
Extracted from PDF file 2023-indiana-form-it-2210a.pdf, last modified May 2020Annualized Schedule for Underpayment of Estimated Tax
Schedule IT-2210A State Form 48437 (R23 / 9-23) Enclosure Sequence No. 14 Indiana Department of Revenue 2023 Annualized Income Schedule for the Underpayment of Estimated Tax by Individuals Your Social Security Number Names(s) shown on Form IT-40/IT-40PNR Section I - Early Filers Check box if you filed your 2023 tax return and paid the total tax due by Jan. 31, 2024. Section II - Required Annual Payment A. 2023 tax ___________________________________________________________________________ A 00 B. 2023 credits (not including withholding credits or estimated tax) ________________________________ B 00 C. Subtract line B from line A _____________________________________________________________ C 00 D. Multiply line C by 90% (.90)____________________________________________________________ D 00 E. 2023 withholding tax and PTET credit ____________________________________________________ E 00 F. Subtract line E from line C - If less than $1,000, STOP HERE! You do not owe a penalty __________ F 00 G. Prior year’s tax (see instructions) _______________________________________________________ G 00 H. Minimum required annual payment - Enter the lesser of line D or line G (if G is N/A, enter amount from D) If less than or equal to the amount on line E, STOP HERE! You do not owe a penalty.___________ H 00 Section III - STOP! Complete lines 1 through 12 for Columns A through D first. Column A Column B 1-1 to 3-31 1-1 to 5-31 1. Indiana adjusted income for each period________________________ 1 2. Annualization amounts___________ 2 Column C 1-1 to 8-31 Column D 1-1 to 12-31 00 00 00 1 00 4.0 2 2.4 1.5 1.0 3. Annualized income: Multiply line 1 by line 2______________________ 3 00 00 00 3 00 4. Exemptions: Line 6 of Form IT-40 or Form IT-40PNR ______________ 4 00 00 00 5. Annualized state taxable income (line 3 minus line 4)_____________ 6. State income tax: Multiply line 5 by 3.15% (.0315)_______________ 7. County income tax: See instructions_ 8. Annualized total tax: Add lines 6 and 7_ 9. Credits: See instructions_________ 4 00 5 00 00 00 5 00 6 00 00 00 6 00 8 00 00 00 8 00 7 00 00 00 9 00 00 00 7 00 9 00 10. Annualized tax: Subtract line 9 from line 8. If less than zero, enter -0-___ 10 00 00 00 10 00 11. Applicable installment percentages_ 11 .225 .450 .675 11 .900 12. Installment amount due: Multiply line 10 by line 11________________ 12 00 00 00 12 00 *24100000000* 24100000000 Schedule IT-2210A Section III cont’d... Column A 1-1 to 3-31 Column B 1-1 to 5-31 Column C 1-1 to 8-31 12a. Enter amounts carried from the front page, line 12 ______________ 12a 00 00 STOP! Column D 1-1 to 12-31 00 12a 00 Complete lines 13 through 25 for each column, beginning with Column A, before going to the next column. 13. Amount from line 19 of all preceding columns (see instructions)________ 13 00 00 13 00 14. Total Tax: Subtract line 13 from line 12a. If less than zero, leave blank__ 14 00 00 00 14 00 15. Minimum tax due: Enter 25% (.25) of line H from Section II __________ 15 00 00 00 15 00 16. Enter the amount from line 18 of the preceding column ______________ 16 00 00 00 16 00 17. Total minimum tax: Add lines 15 and 16 ____________________ 17 00 00 00 17 00 18. Subtract line 14 from line 17. If less than zero, leave blank ___________ 18 00 00 00 18 00 19. Actual estimated tax due: Enter the lesser of line 14 or line 17 here. Carry to line 13 of the next column__ 19 00 00 00 19 00 20. Indiana state income tax withheld and PTET______________ 20 00 00 00 20 00 21. Indiana county income tax withheld______________________ 21 00 00 00 23. Total amount paid: Add lines 20 through 22 ____________________ 23 00 00 00 23 00 24. Overpayment: If line 23 is greater than line 19, enter the difference here_________________________ 24 00 00 00 24 00 25. Underpayment: If line 19 is greater than line 23, enter the difference here_________________________ 25 00 00 00 22. Estimated tax payments__________ 22 00 00 21 00 00 22 00 25 00 26. Add line 25, Columns A + B + C + D and enter the total here________________________________________ 26 00 27. Penalty due. Multiply line 26 by 10% (.10) and enter total here and on line 20 of Form IT-40/IT40PNR________ 27 00 *24100000000* 24100000000 Schedule IT-2210A Annualized Income Schedule for the Underpayment of Estimated Tax by Individuals Who Should File Schedule IT-2210A? Most taxpayers have state and county income taxes withheld from their income by their employers; therefore, the income taxes are usually paid in “even” amounts throughout the year. However, if you are self-employed, earn seasonal income, have income which does not have state and county income taxes withheld, or expect to owe more than $1,000 of state and/or county income taxes at the time you file your annual income tax return, you might be required to pay estimated taxes during the tax year. Either Schedule IT-2210 or Schedule IT-2210A are used to determine if you paid enough estimated taxes each period. If you did not, then you can figure the penalty you might owe for the underpayment of the estimated taxes. Schedule IT-2210A or Schedule IT-2210: Which one to use You should use Schedule IT-2210A to: 1) figure your penalty, or 2) to show you paid enough estimated tax for a period if you received seasonal income (such as Christmas tree sales, fireworks sales, etc.), or a lump sum distribution, and you made any estimated tax payments that coincide with the receipt of that income. If the income you received (on which no Indiana income tax is withheld) is evenly distributed during the year, such as pension income, then you should file Schedule IT-2210 instead. Section II - Required Annual Payments Section II will determine if you should have paid estimated taxes during the year and the minimum amount required. Line A: 2023 Tax: Add together the state adjusted gross income tax and county income tax from lines 8 and 9 of Form IT-40 or Form IT-40PNR, certain Indiana credit recaptures from line 3 of Indiana’s Schedule 4 or Schedule E, plus any nonresident professional team member’s county tax from Schedule E, line 4. Enter the total here. Line B: 2023 Credits: Add together any credits from lines 5 through 12 of Indiana’s Schedule 5 or Schedule F, plus any offset credits from line 13 of Form IT-40 or Form IT-40PNR. Enter the total here. Line D: To determine 90% of your total expected tax, multiply line 3 by 90% (.90). Note: If at least two-thirds of your gross income is from farming or fishing, multiply line 3 by .667. Line E: 2023 Withholding and pass through entity tax (PTET) credit: Add together any state and county withholding amounts, along with any pass through entity tax (“PTET”) from lines 1 through 3 of Indiana’s Schedule 5 or Schedule F. Enter the total here. Farmers and Fishermen: If at least twothirds of your income for 2022 or 2023 was from farming or fishing, you have only one payment due date for 2023 estimated tax – Jan. 16, 2024. Line F: Subtract line E from line C. If this amount is less than $1,000, you do not owe a penalty. Stop here and attach a copy of this schedule to your individual income tax return. To show you meet this two-thirds rule, do not file this schedule. Instead, you must file Schedule IT-2210, and complete the Section D – Short Method. Get Schedule IT-2210 at www.in.gov/dor/taxforms/2023-individual-income-tax-forms/. Line G: Prior Year’s Tax Exception: See if you are eligible for any of the following exceptions. Section I - Early Filers If you file your individual income tax return and pay the tax due by Jan. 31, 2024, you will not be required to make a 4th installment estimated tax payment. For additional information see the instructions for line 22. • If your federal adjusted gross income from 2022 was more than $150,000 ($75,000 for married filing separately) and you are not subject to the special rules for farmers and fishermen, enter the result multiplied by 110% (1.10). See the CAUTION box on page 2. 1 • If you filed a 2022 Form IT-40PNR as a full-year nonresident, add the tax from lines 8 and 9; subtract the total of the credits on line 13 plus any amounts on Schedule F, lines 4 through 11. Enter the result here. Note: See CAUTION box on page 2. • If you filed a 2022 Form IT-40PNR as a part-year resident of Indiana, you must figure the tax for that year on an annualized basis. See the instruction and Example for when 2022 Form IT-40PNR was filed as a part-year resident on page 2. • If you did not file a 2022 tax return, enter “N/A”. Line H: Minimum required annual payment: Enter the lesser of line D or line G. If the line G entry is N/A, enter the amount from line D on this line. Section III - Annualized Method STOP! Complete lines 1 through 25 for each column, beginning with Column A, before going to the next column. Line 1: 2023 Indiana Adjusted Income: You must use the amount from Form IT-40 or from Form IT-40PNR, line 5, and figure how much of this income was earned during each period. Note that each column includes the income totals from all previous columns. See the example at the top of the next page. Line 4: Exemptions: Enter the total amount of exemptions shown on line 6 of Form IT-40 or Form IT-40PNR. Enter the total amount in each column. Line 5: Annualized State Taxable Income: Subtract line 4 from line 3. If the difference is a negative number, put no entry on this line. Line 7: County Income Tax: Multiply the amount on line 5 by your county tax rate from line 2 of your county tax schedule (CT-40 or CT-40PNR) or multiply the amount on line 5 that is principal employment income (less allowable exemptions) by the county tax rate from Section 2, line 6, of Schedule CT-40PNR. Line 9: Credits: Enter the applicable portion of credits from lines 5 through 12 of Indiana’s Schedule 5 or Schedule F, plus any offset credits from line 13 of Form IT-40 or Form IT-40PNR, for each period. Example. If you made a contribution to a college in July, include this credit in Column C and Column D. Line 13: Enter the amount (if any) from line 19 of all preceding columns. Example. To complete line 13, Column D, add line 19 amounts from Columns A, B and C. Enter this amount in Column D. Line 15: Minimum Tax Due: Enter 25% of line H (from Section II) in each column. Line 16: Tax Carryover: Enter the amount from line 18 of the preceding column. This line keeps track of the portion of your average tax that was not imposed for the previous period. Line 19: Actual Estimated Tax Due: Enter the smaller amount from line 14 or line 17 on this line. This is the actual amount of estimated tax you should have paid for this period. Also, enter this amount on line 13 of the next column. (Because this is subtracted in columns B, C, and D, you will not pay a penalty on the same underpayment twice.) Line 20: Indiana State Tax Withheld and PTET: Divide the amount from line 1 and line 3 of Indiana’s Schedule 5 or Schedule F by four and enter the result in each column. Note: If your withholding should change during the year, please show the increase or decrease in the period when the change occurred. In addition, if your income subject to PTET changes through the year, see Income Tax Information Bulletins 3 and 72B for further information. Line 21: Indiana County Tax Withheld: Divide the amount from line 2 of Indiana’s Schedule 5 or Schedule F by four and enter the result in each column. See note above. Example for when 2022 Form IT-40PNR was filed as a part-year resident: If you filed a 2022 Form IT-40PNR as a part-year resident of Indiana, you must figure the tax for that year on an annualized basis. You can accomplish this by multiplying the Form IT-40PNR line 1 income by 12 and dividing the result by the number of months you were an Indiana resident. Then figure the state tax and county tax, if applicable, by 1) subtracting your 2023 exemptions from the result and 2) multiplying that total by the combined state and applicable county tax rate(s) from your 2023 Indiana individual income tax return. See the example below. Note: If your federal adjusted gross income from 2023 was more than $150,000 ($75,000 for married filing separately), see CAUTION box below. Example: • Jane moved to Indiana on Sept. 15, 2022, so she was a resident for 3.5 months. • Her 2022 Form IT-40PNR line 1 income is $10,000. • Her 2023 total exemptions are $3,500. • The 2023 adjusted gross income tax rate is 3.15% (.0315). Her 2023 county tax rate is .01 (for a 4.15% [.0415] combined state and county tax rate). Use Steps 1 - 4 below to figure her prior year’s tax exception for line G of Sch. IT-2210A. Step 1 $ 10,000 x 12 $ 120,000 2022 Indiana income months annualized income Step 2 $ 120,000 ÷ 3.5 34,286 annualized income months of 2022 residency Step 3 $ 34,286 - 3,500 30,786 2023 exemptions Step 4 $ 30,786 x 4.15% $ 1,278* 2023 combined state and county tax rate * The $1,278 Step 4 amount should be entered as an exception on line G of Jane’s Schedule IT-2210A. CAUTION: If your 2022 federal adjusted gross income is more than $150,000 ($75,000 if your 2023 filing status is married filing separately), you must enter 110% of last year’s tax (instead of 100%) on line G. Example. Chris and Kate’s 2022 state taxable income from line 7 of Form IT-40 is $158,000. They must take the following steps to arrive at the exception amount for line 7: a) 2022 IT-40 total income tax (line 8 plus line 9).............................$ 6,952 b) 2022 IT-40 credits (line 13 plus line 14 plus Schedule 5, lines 4 through 11)...................................................- 1,952 c) Subtotal........................................................................................$ 5,000 d) Exception to the penalty percentage............................................x 110% e) Amount for line 7 of Schedule IT-2210.........................................$ 5,500 Note: If Chris and Kate’s 2022 state taxable income is less than $150,000, they would enter $5,000 instead of $5,500 on line G. 2 Figure their Indiana adjusted income for: • The period 1-1-23 through 3-31-23 (first 3 months (mos) of the year): 3 mos/12 mos (or .25) x $30,000 wage ............................. $7,500 $50 a month interest x 3 months ............................................ 150 3 mos/12 mos (or .25) x $2,500 renter’s deduction .............. -625 Line 1, Column A Indiana Adjusted Income ....................... $7,025 Example: Jean and Jerry’s 2023 Indiana adjusted income was figured using the following information: Jean’s wage income earned evenly throughout the year......................................................... $ 30,000 Jerry’s net income from fireworks sales earned in June and July.................................................................. 22,000 Total joint interest income ($50 received monthly)...................... 600 Renter’s deduction for renting all year . .................................. -2,500 Indiana adjusted income for 2023......................................*$ 50,100 • The period 1-1-23 through 5-31-23 (first 5 months (mos) of the year): 5 mos/12 mos (or .42) x $30,000 wage ........................... $12,600 $50 a month interest x 5 months ........................................... 250 5 mos/12 mos (or .42) x $2,500 renter’s deduction ........... -1,050 Line 1, Column B Indiana Adjusted Income ......................$11,800 They will have to figure how much wage and interest income was earned on a monthly basis, and how much renter’s deduction is available for each month. Then they can figure the portion of their Indiana adjusted income for each of the time periods shown on line 1, Columns A - D. • The period 1-1-23 through 8-31-23 (first 8 months (mos) of the year): 8 mos/12 mos (or .67) x $30,000 wage ........................... $20,100 $50 a month interest x 8 months ............................................ 400 Jerry’s net income (all received in June and July) ............. 22,000 8 mos/12 mos (or .67) x $2,500 renter’s deduction ........... -1,675 Line 1, Column C Indiana Adjusted Income .................... $40,825 *This $50,100 amount will be entered on line 1, Column D of their Schedule IT-2210A. Line 22: 2023 Estimated Tax Payments: Enter the amount of estimated taxes paid per each installment period. • Column A - Enter estimated tax payments made from Jan. 1, 2023, through April 18, 2023. Do not include the fourth estimated tax payment for 2022. • Column B - Enter estimated tax payments made from April 18, 2023, through June 15, 2023. • Column C - Enter estimated tax payments made from June 15, 2023, through Sept. 15, 2023. • Column D - Enter estimated tax payments made from Sept. 15, 2023, through Jan. 16, 2024. Example: Mike had a $100 underpayment on line 25, Column A. He had a $130 overpayment on line 24, Column B. The net overpayment from the first two installment periods is $30 ($130 - $100). He’ll add this net overpayment to any estimated tax paid for the third installment period on line 22, Column C. Note: If, after subtracting any previous underpayments, this amount is less than zero, no overpayment will be available to carry over to the next installment period. Also, do not carry over a negative figure if this amount is less than zero. For example, a first period underpayment of $80 plus a second period overpayment of $50 results in a $30 net underpayment. This amount is not to be used to decrease any credits for the next installment period. Note for Early Filers: If you file your individual income tax return and pay the total tax due by Jan. 31, 2024, you will not be required to make a 4th installment estimated tax payment. You should include on line 22, Column D, the amount of tax you paid with your tax return (Form IT-40 or Form IT-40PNR) minus any household employment tax, use tax, certain Indiana credits, and/ or the amount shown on the return to be applied to your 2024 estimated tax account. Line 25: Underpayment: If line 23 is less than line 19, enter the difference on this line. Line 26: Add lines 25A + 25B + 25C + 25D and enter the total here. Line 27: Penalty for the underpayment of estimated tax: Multiply line 26 by 10% (.10). Enter the amount here and on line 20 of your Form IT-40 or Form IT-40PNR. Line 24: Installment Period Overpayment: If the total payment (line 23) is more than the required payment due (line 19) for an installment period, enter the difference on this line. This amount should then be added to line 22 in the next column after subtracting any underpayment(s) shown on line 25 in the previous column(s). If you are filing your IT-40 or IT-40PNR by mail, you must attach Schedule IT-2210A with your return. In addition, mark "A" in the box on Line 20a of Form IT-40 or Form IT-40PNR if you are using this form to calculate your penalty for the underpayment of estimated tax. 3
Form IT-2210A
More about the Indiana Form IT-2210A Individual Income Tax Estimated TY 2023
We last updated the Annualized Schedule for Underpayment of Estimated Tax in February 2024, so this is the latest version of Form IT-2210A, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IT-2210A directly from TaxFormFinder. You can print other Indiana tax forms here.
Other Indiana Individual Income Tax Forms:
TaxFormFinder has an additional 69 Indiana income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form ES-40 | Estimated Tax Payment Voucher |
| IT-40 Form | IT-40 Income Tax Form |
| Form SC-40 | Unified Tax Credit for the Elderly |
| IT-40 Booklet | IT-40 Income Tax Instruction Booklet |
| Schedule 2 | Deductions |
View all 70 Indiana Income Tax Forms
Form Sources:
Indiana usually releases forms for the current tax year between January and April. We last updated Indiana Form IT-2210A from the Department of Revenue in February 2024.
Form IT-2210A is an Indiana Individual Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Indiana Form IT-2210A
We have a total of thirteen past-year versions of Form IT-2210A in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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