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“1. Adjusted gross income you expect in 2006 (see instructions below)” field
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“2. If you plan to itemize deductions, enter the estimated total of your itemized deductions. Caution: If line 1 above is over
$150,500
($75,250 if married filing separately), your deduction may be reduced. See Pub. 505 for details. If you do not plan to itemize
deductions, enter your
standard deduction from page 1” field
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“3. Subtract line 2 from line 1” field
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“4. Exemptions. Multiply $3,300 by the number of personal exemptions. If you can be claimed as a dependent on another person's
2005 return,
your personal exemption is not allowed. Caution: See Pub. 505 to figure the amount to enter if you provided housing in 2006
to a person displaced by
Hurricane Katrina, or if line 1 above is over: $222,750 if married filing jointly or qualifying widow(er); $188,150 if head
of household; $150,500 if
single; or $112,875 if married filing separately” field
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“5. Subtract line 4 from line 3” field
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“6. Tax. Figure your tax on the amount on line 5 by using the 2006 Tax Rate Schedules on page 5. Caution: If you have qualified
dividends or a
net capital gain, see Pub. 505 to figure the tax” field
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“7. Alternative minimum tax from Form 6251” field
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“8. Add lines 6 and 7. Also include any tax from Forms 4972 and 8814 and any recapture of the education credits (see instructions
below)” field
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“9. Credits (see instructions below). Do not include any income tax withholding on this line” field
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“10. Subtract line 9 from line 8. If zero or less, enter 0” field
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“11. Self-employment tax (see instructions below). Estimate of 2006 net earnings from self-employment $(blank text field);
if $94,200 or less,
multiply the amount by 15.3%; if more than $94,200, multiply the amount by 2.9%, add $11,680.80 to the result, and enter the
total. Caution: If you
also have wages subject to social security tax, see Pub. 505 to figure the amount to enter” field
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“12. Other taxes (see instructions below)” field
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“13a. Add lines 10 through 12” field
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“13b. Earned income credit, additional child tax credit, and credits from Form 4136 and Form 8885” field
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“13c. Total 2006 estimated tax. Subtract line 13b from line 13a. If zero or less, enter 0” field
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“14a. Multiply line 13c by 90% (66 2/3% for farmers and fishermen)” field
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“14b. Enter the tax shown on your 2005 tax return (110% of that amount if you are not a farmer or fisherman and the adjusted
gross income shown
on that return is more than $150,000, or, if married filing separately for 2006, more than $75,000)” field
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“14c. Required annual payment to avoid a penalty. Enter the smaller of line 14a or 14b. Caution: Generally, if you do not prepay
(through
income tax withholding and estimated tax payments) at least the amount on line 14c, you may owe a penalty for not paying enough
estimated tax. To
avoid a penalty, make sure your estimate on line 13c is as accurate as possible. Even if you pay the required annual payment,
you may still owe tax
when you file your return. If you prefer, you can pay the amount shown on line 13c. For details, see Pub. 505” field
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“15. Income tax withheld and estimated to be withheld during 2006 (including income tax withholding on pensions, annuities,
certain deferred
income, etcetera)” field
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“16. Subtract line 15 from line 14c. (Note: If zero or less or line 13c minus line 15 is less than $1,000, stop here. You are
not required to
make estimated tax payments.)” field
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“17. If the first payment you are required to make is due April 17, 2006, enter 1/4 of line 16 (minus any 2005 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.
(Note: Household
employers, see instructions below.)” field
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