Form IA 2210-AI Fillable Schedule AI Annualized Income Installment Method 45-011
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(text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) *1345011019999* 1 Complete form IA 2210 and Schedule AI Enter the amount from each column of line 28 of Schedule AI 1 Enter your net income (line 26 IA 1040) for each period 1 1 Figure the Iowa source gross income less any adjustments for the period Multiply this income figure by 1/1/13 3/31/13 1/1/13 5/31/13 1/1/13 8/31/13 1/1/13 12/31/13 10 Standard deduction Enter full year amount in each period 10 11 Enter the larger of line 9 or line 10 11 12 Subtract lines 6 and 11 from line 3 12 123456789012345612345678901234561234567890123456123456789012345612345678901234512345678901234512345678901234512345678901234512345678901234512345678901234512345678901234512345678901234512345678901234522 5% 45% 67 5% 90% 13 Figure your tax on the amount on line 12 See instructions 13 14 Enter any Iowa lump sum tax and Iowa minimum 15 Total tax Add lines 13 and 14 15 16 Enter your exemption credits for the year (dollar amount) 17 For each period enter your credits from form 18 For each period enter your credits from form 19 Balance Subtract lines 16 17 and 18 from line 15 19 2 Annualization amounts 2 2 Check the box on line 73 of form IA 1040 indicating that you used the annualized income installment 2 Enter the amount from line 3 of Schedule AI on line 27 of form IA 126 20 Applicable percentage 20 2013 IA 2210 Schedule AI 21 Multiply line 19 by line 20 Note: Complete lines 22 28 of one column before going to the next column 21 22 Add the amounts in all preceding columns of line 28 22 23 Subtract line 22 from line 21 If zero or less enter 0 23 24 Enter 1/4 of line 10 of form IA 2210 in each column 24 25 Enter amount from line 27 of the preceding column 25 26 Add lines 24 and 25 and enter the total 26 27 Subtract line 23 from line 26 If zero or less enter 0 27 28 and 29 of form IA 126 28 Enter the smaller of line 23 or line 26 here and 3 Annualized income Multiply line 1 by line 2 3 3 Calculate the Iowa income percentage and the nonresident/part year resident credit percentage on lines 3 Include both form IA 2210 and Schedule AI with your return 4 2 4 1 5 1 4 2 4 1 5 1 4 Enter the tax amount for the period from line 13 of Schedule AI on line 30 of form IA 126 4 Enter your federal tax payments for each period 45 011a (09/05/13) 45 011b (09/05/13) 45 011c (09/05/13) 5 Add the credits from lines 16 and 17 of Schedule AI that represent lines 43 44 and 45 of form IA 1040 5 Annualization amounts 5 6 Compute the nonresident/part year resident credit by subtracting the credits on line 31 of form IA 126 from 6 Multiply line 4 by line 5 6 7 Enter your Iowa Itemized deductions for 8 Annualization amounts 8 9 Multiply line 7 by line 8 9 a seasonal basis You must use form IA 2210 and Schedule AI to figure the required installment amount to enter on Annualized Income Installment Method annualized income installment method if your income varied during the year For example you operated a business on by a ratio of gross income taxed by the other state/country for the period to total gross income taxed by other state/ column heading Multiply this amount by the annualized amounts shown on line 2 before subtracting the alternative country Example: Fred a full year resident had $100 000 of income taxed by another state The other state s tax country line 1 of the IA 130 must be annualized by multiplying by the annualization factor for the period The credits you must annualize any item of income or deduction used to figure the credit each period 7 each required installment Schedule AI automatically selects the smaller of the annualized income installment or the earlier installments) Enter this figure on line 31 of form IA 126 enter zero and skip to line 10 Figure your Iowa minimum taxable income based on your income and deductions during the months shown in each gross income for residents line 2 of the IA 130 is the amount on line 3 of the Iowa Schedule AI (if a part year IA 1040 lines 44 45 48 and 50 See instructions 17 IA 1040 lines 62 and 64 See instructions 18 IA 2210 Schedule AI General Instructions If you use Schedule AI for any payment due date you must use it for all payment due dates To figure the amount of imposed was $4 000 for the year For the period 1/1/13 to 3/31/13 the income taxed by the other state was $25 000 in each column of line 12 of form IA 2210 Iowa Department of Revenue itemized deductions Line 1 Figure your net income for the months shown in each column heading Include the sum of all gross income/ Line 10 Enter the full amount of the standard deduction for your filing status in each column even if you line 12 of form IA 2210 Line 13 Compute the tax using the tax tables Line 14 Enter the Iowa lump sum tax and Iowa minimum tax you owed because of events that occurred during Line 16 Enter in each column your exemption credit amounts from form IA 1040 line 43 Line 17 Enter the credits from your IA 1040 lines 44 45 48 and 50 that you are entitled to because of events line 17 of Iowa Schedule AI Line 18 Enter the credits from your IA 1040 lines 62 and 64 that you are entitled to because of events that Line 28 Enter these amounts on line 12 form IA 2210 Line 4 Enter your federal tax payments for the months shown in each column heading net of any refund received in Line 7 Enter your Iowa itemized deductions for the months shown in each column heading If you do not itemize Line 9 Multiply line 7 by line 8 and enter the result on line 9 Line by Line Instructions loss for the period minus any adjustments to income for the period method minimum tax exemption amounts See form IA 6251 Iowa Minimum Tax Computation NAME Social Security Number net amount is a refund 4 net of any refund Use a negative number if the Nonresident or Part year Resident Credit: This credit must be computed on the IA 126 for each period as follows: occurred during the months shown in the column headings Do not annualize any credit However when figuring your on line 12 form IA 2210 28 on line 13 of Iowa Schedule AI for the period The total tax imposed by the other state/country must be multiplied Out of state tax credit form IA 130 must be computed for each period The gross income taxed by the other state/ Please enclose a worksheet or tax form showing the calculations for each credit claimed on line 17 Please enclose a worksheet or tax form showing the calculations for each credit claimed on line 18 regular installment (increased by the amount saved by using the annualized income installment method in figuring resident credit must be computed as shown below resident the amount is taken from line 15 of the IA 126) for the period The tax line 4 of the IA 130 is the amount tax for each period See instructions 14 that occurred during the months shown in the column headings Do not annualize any credit However when figuring The computation for the tax imposed for the period 1/1/13 to 3/31/13 is ($4 000 times the annualization factor of 4 0 The IA 148 Tax Credits Schedule must be enclosed if any credits are claimed from line 50 of IA 1040 The IA 148 Tax Credits Schedule must be enclosed if any credits are claimed from line 61 of IA 1040 the months shown in each column heading the number for the corresponding period on line 2 of Schedule AI and enter on line 26 of form IA 126 the period A net refund should be entered as a negative number the tax on line 30 of form IA 126 Multiply this figure by the percentage on line 29 Enter this number on To use the annualized income installment method you must do all of the following: www iowa gov/tax X 25 000/100 000) You have the option of using the regular or annualized income installment method to figure your estimated tax penalty You may be able to reduce or eliminate the amount of one or more of your required installments by using the your credits you must annualize any item of income or deduction used to figure the credit The nonresident or partyear