Instructions for the 2015 Estimated
Line 1. Adjusted gross income. Use your 2014 tax
return and instructions as a guide to figuring the adjusted
gross income you expect in 2015 (but be sure to consider
the items listed under What's New, earlier). For more
details on figuring your adjusted gross income, see
Expected AGI—Line 1 in chapter 2 of Pub. 505.
If you are self-employed, be sure to take into account
the deduction for self-employment tax. Use the 2015
Self-Employment Tax and Deduction Worksheet for Lines
1 and 11 of the Estimated Tax Worksheet to figure the
amount to subtract when figuring your expected AGI. This
worksheet also will give you the amount to enter on line 11
of your estimated tax worksheet.
Line 9. Credits. See the 2014 Form 1040, lines 48
through 54, or Form 1040A, lines 31 through 35, and the
related instructions for the types of credits allowed.
Line 11. Self-employment tax. If you and your spouse
make joint estimated tax payments and both of you have
self-employment income, figure the self-employment tax
for each of you separately. Enter the total on line 11.
When estimating your 2015 net earnings from
self-employment, be sure to use only 92.35% (.9235) of
your total net profit from self-employment.
Line 12. Other taxes. Use the Instructions for the 2014
Form 1040 to determine if you expect to owe, for 2015,
any of the taxes that would have been entered on your
2014 Form 1040, lines 59 (additional tax on distributions
only), 60a, 60b, and 62 (including, if applicable, Additional
Medicare Tax and/or Net Investment Income Tax). On
line 12, enter the total of those taxes, subject to the
following two exceptions.
Exception 1. Include household employment taxes
from Form 1040, line 60a, on this line only if:
You will have federal income tax withheld from wages,
pensions, annuities, gambling winnings, or other income,
You would be required to make estimated tax payments
(to avoid a penalty) even if you did not include household
employment taxes when figuring your estimated tax.
If you meet either of the above, include the total of your
household employment taxes on line 12.
Exception 2. Of the amounts for other taxes that may
be entered on Form 1040, line 62, do not include on
line 12: recapture of a federal mortgage subsidy,
uncollected social security and Medicare tax or RRTA tax
on tips or group-term life insurance, excise tax on excess
golden parachute payments, look-back interest due under
section 167(g) or 460(b), or excise tax on insider stock
compensation from an expatriated corporation. These
taxes are not required to be paid until the due date of your
income tax return (not including extensions).
Additional Medicare Tax. For information about the
Additional Medicare Tax, see the Instructions for Form
Net Investment Income Tax (NIIT). For information
about the Net Investment Income Tax, see the
Instructions for Form 8960.
Recapture of first-time homebuyer credit. If you
purchased a home in 2008 and claimed the first-time
homebuyer credit, repayment of that credit began with
your 2010 tax return and will continue until the credit is
fully repaid. If the home ceases to be your main home,
then the unpaid balance of the credit is to be repaid on the
return for the year when the home was no longer your
If you purchased a home in 2009, 2010, or 2011 and
claimed the first-time homebuyer credit, you must
maintain that home as your main home for at least 36
months to avoid having to repay the credit.
For details about repaying the first-time homebuyer
credit, see the Instructions for Form 5405.
Line 14b. Prior year's tax. Enter the 2014 tax you figure
according to the instructions in Figuring your 2014 tax
unless you meet one of the following exceptions.
If the adjusted gross income shown on your 2014 return
is more than $150,000 ($75,000 if married filing
separately for 2015), enter 110% of your 2014 tax as
Note. This does not apply to farmers or fishermen.
If you will file a joint return for 2015 but you did not file a
joint return for 2014, add the tax shown on your 2014
return to the tax shown on your spouse's 2014 return and
enter the total on line 14b.
If you filed a joint return for 2014 but you will not file a
joint return for 2015, see General Rule in chapter 4 of Pub.
505 to figure your share of the 2014 tax to enter on
If you did not file a return for 2014 or your 2014 tax year
was less than 12 full months, do not complete line 14b.
Instead, enter the amount from line 14a on line 14c.
Figuring your 2014 tax. Use the following instructions
to figure your 2014 tax.
1. Form 1040—The tax shown on your 2014 Form
1040 is the amount on line 63 reduced by:
a. Unreported social security and Medicare tax or
RRTA tax from Form 1040, line 58;
b. Any tax included on line 59 on excess contributions
to IRAs, Archer MSAs, Coverdell education savings
accounts, and health savings accounts, or on excess
accumulations in qualified retirement plans;
c. Any shared responsibility payment on line 61;
d. Amounts on line 62 as listed under Exception 2,
e. Any refundable credit amounts on lines 66a, 67, 68,
69, and 72.
2. Form 1040A—The tax shown on your 2014 Form
1040A is the amount on line 39 reduced by the amount on
line 38, and any refundable credits on lines 42a, 43, 44,
3. Form 1040EZ—The tax shown on your 2014 Form
1040EZ is the amount on line 12 reduced by the amount
on lines 8a and 11.
Form 1040-ES (2015) -5-