2018 Federal Estimated Taxes (Form 1040 ES)

The 2018 Federal Estimated Taxes (Form 1040 ES) calculator calculates the yearly estimated taxes you must pay for 2018. We are not accountants or tax advisers and we recommend that you perform your own calculations using the IRS worksheet or consult your accountant and do not rely solely on this calculator. 

INSTRUCTIONS: Enter your information for each variable. Some values will be unnecessary for most typical tax situations

• (Filing Status)  Enter your tax filing status such as Single, Married filing jointly, etc.
• (Self Employment Income)  Enter your income from self employment.
• (Wages)  Enter your wages paid by an employer that have had taxes, medicare, and social security withheld.
• (Conservation Reserve Program Payments)  If you will have farm income and also receive social security retirement or disability benefits, enter your expected Conservation Reserve Program payments that will be included on Schedule F (Form 1040) or listed on Schedule K-1 (Form 1065)
• (Itemized Deduction Value)  If you have itemized deductions enter them here. If they are less than the standard deduction for your filing status the standard deduction will be used instead.
• (Deduction 199A)  For taxable years beginning after December 31, 2017, taxpayers other than corporations are entitled to a deduction of up to 20% of their qualified business income from a qualified trade or business. The deduction is subject to multiple limitations based on the type of trade or business, the taxpayer’s taxable income, the amount of W-2 wages paid with respect to the qualified trade or business, and the unadjusted basis of qualified property held by the trade or business. The deduction can be taken in addition to the standard or itemized deductions. For more information, see code section 199A. https://www.law.cornell.edu/uscode/text/26/199A
• (Alternative Minimum Tax)  Enter your Alternative minimum tax from Form 6251 or included on Form 1040A, line 28. If you don't know what this is you probably don't have to pay any.
• (Credits)  See the 2017 Form 1040, lines 48 through 54, or Form 1040A, lines 31 through 35, and the related instructions for the types of credits allowed.
• (Other Taxes)  Use the instructions for the 2017 Form 1040 to determine if you expect to owe, for 2018, any of the taxes that would have been entered on your 2017 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). 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, or You would be required to make estimated tax payments (to avoid a penalty) even if you didn’t include household employment taxes when figuring your estimated tax. If you meet either of the above, include the total of your household employment taxes. 
  • Exception 2. Of the amounts for other taxes that may be entered on Form 1040, line 62, don’t include: 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 aren’t 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 8959. 
  • Net Investment Income Tax (NIIT). For information about the Net Investment Income Tax, see the Instructions for Form 8960. 
  • Repayment of first-time homebuyer credit. You must repay the first-time homebuyer credit if you bought the home in 2008. For details about repaying the first-time homebuyer credit, see the instructions for Form 5405.
• (Additional Credits)  Earned income credit, additional child tax credit, fuel tax credit, net premium tax credit,refundable American opportunity credit, and refundable credit from Form 8885
• (2017 Tax Payed)   Enter the 2017 tax you figure according to the instructions in Figuring your 2017 tax unless you meet one of the following exceptions.
  • If the AGI shown on your 2017 return is more than $150,000 ($75,000 if married filing separately for 2018), enter 110% of your 2017 tax as figured next.
    • Note. This doesn’t apply to farmers or fishermen. 
  • If you will file a joint return for 2018 but you didn’t file a joint return for 2017, add the tax shown on your 2017 return to the tax shown on your spouse's 2017 return and enter the total.
  • If you filed a joint return for 2017 but you will not file a joint return for 2018, see General Rule in chapter 4 of Pub. 505 to figure your share of the 2017 tax to enter. 
  • If you didn’t file a return for 2017 or your 2017 tax year was less than 12 full months, don’t enter the value. Instead, enter 0.
    Figuring your 2017 tax. Use the following instructions to figure your 2017 tax. 1. Form 1040— The tax shown on your 2017 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 an IRA, Archer MSA, Coverdell education savings account, health savings account, ABLE account, 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, earlier; and
    e. Any refundable credit amounts on lines 66a, 67, 68, 69, and 72, and credit from Form 8885 included on line 73.
    2. Form 1040A—The tax shown on your 2017 Form 1040A is the amount on line 39 reduced by the amount on line 38, and any refundable credits on lines 42a, 43, 44, and 45.
    3. Form 1040EZ—The tax shown on your 2017 Form 1040EZ is the amount on line 12 reduced by the amount on lines 8a and 11.

General Information

If you receive any income from self-employment, or more simply put, any income from sources where the federal taxes are not withheld, you may be required to file estimated tax payments. In this situation you will use the IRS form 1040 ES (https://www.irs.gov/pub/irs-pdf/f1040es.pdf) to calculate the approximate amount of tax you will for the coming year based on how much money you think you will make. Appropriate deductions are applied and the adjusted total income is used to calculate the total you will owe. if you owe more than $1000 you must divide the total by 4 and pay a quarter of the amount each quarter of the year. Usually April 15, June 15, September 15, and January 15 unless any due date falls on a weekend. 

Other Information

2018 estimated tax form: https://www.irs.gov/pub/irs-pdf/f1040es.pdf

Related Tax Calculators:

• 2018 Tax Rate Schedules