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             Schedule                                    Indiana Department of Revenue                                Enclosure 
                                                                                                                     Sequence No. 13
             StateIT-2210Form 46002                    2023 Underpayment of 
             (R24 / 9-23)                       Estimated Tax By Individuals
                                                       Enclose with Form IT-40 or Form IT-40PNR
 Name(s) shown on Form IT-40/IT-40PNR                                                    Your Social 
                                                                                         Security Number

Section A - Farmers and Fishermen Only - See Instructions                                               Section B:
          Annual Gross Income                   Two-Thirds of                Gross Income from          Early Filers
          from All Sources                      Gross Income                 Farming and Fishing        Check box if you filed 
                                                                                                        your 2023 tax return 
 2022                              00 X 66.7% =                   00                                 00 and paid the total tax 
 2023                              00 X 66.7% =                   00                                 00 due by Jan. 31, 2024
 Section C - Required Annual Payment                                                                           Round all entries
 1. 2023 tax ____________________________________________________________________                       1                           00
 2. 2023 credits (not including withholding credits or estimated tax payments)  ________________        2                           00
 3. Subtract line 2 from line 1 _______________________________________________________                 3                           00
 4. Multiply line 3 by 90% (.90) (farmers/fishermen multiply by .667, see instructions) ___________     4                           00
 5. 2023 withholding tax and PTET credit _____________________________________________                  5                           00
 6. Subtract line 5 from line 3 - If less than $1,000, STOP HERE! You do not owe a penalty ____         6                           00
 7. Prior year’s tax (see instructions) _________________________________________________            7                              00
 8. Minimum required annual payment - Enter the lesser of line 4 or line 7 - If less than or equal  
 to the amount on line 5, STOP HERE! You do not owe a penalty  _____________________                    8                           00
 
Section D - Short Method - Read the instructions to determine if you can use the short method
 9. Enter the withholding tax and PTET credit amount from line 5 above _____________________            9                           00
 10. Enter the total amount, if any, of estimated tax payments you made for tax year 2023 _________     10                          00
 11. Add lines 9 and 10 ____________________________________________________________                    11                          00
 12. Total Underpayment. Subtract line 11 from line 8. If zero or less, STOP HERE! You do not 
 owe a penalty. Attach this schedule to your tax return _________________________________               12                          00
 13. Multiply line 12 by 10% (.10). Enter this amount on line 20 on Form IT-40 or Form IT-40PNR __      13                          00
                                                                  Installment Period Due Dates
                                                       A                 B                           C               D
Section E - Regular Method                      1st Installment         2nd Installment        3rd Installment       4th Installment
                                                April 18, 2023          June 15, 2023          September 15, 2023 January 16, 2024
 14. Minimum required installment 
 payment: divide amount on 
 line 8 by 4 ___________________   14                       00                    00                    00  14                      00
 15. 2023 withholding and PTET -  
 Divide line 5 by 4 _____________   15                      00                    00                    00        15                00 
 STOP! Complete lines 16 through 19 for each column before going to the next one.

 16. 2023 estimated taxes paid per period  16               00                    00                    00  16                      00
 17. Total installment payments 
 (add lines 15 and 16) __________   17                      00                    00                    00  17                      00
 18. Installment period overpayment __   18                 00                    00                    00  18                      00
 19. Installment period underpayment _   19                 00                    00                    00  19                      00
 20. Total underpayment - Add line 19, Columns A + B + C + D and enter total here ____________________            20                00
 21. Underpayment penalty - Multiply line 20 by 10%. Enter this amount on line 20 on Form IT-40 or IT-40PNR       21                00

                                          *24100000000*
                                                            24100000000

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Schedule Indiana Department of Revenue
IT-2210
Underpayment of Estimated Tax by Individuals

WHAT is the purpose of Schedule WHAT ELSE do I need to know about Section B – Early Filers
IT-2210? This schedule is used for one this schedule? If you file your individual income tax
of two reasons: return and pay the tax due by Jan. 31,
• If you are a farmer or fisherman, 2024, you will not be required to make
1. To help you figure any penalty you you should review Section A below a fourth installment estimated tax
owe for not paying enough tax and Section D - Short Method payment. For additional information
throughout the year, or instructions on page 2. see the instructions for line 16.

2. To show you paid enough tax • All taxpayers need to know about Section C – Required Annual
throughout the year to be exempt the short method of figuring the Payments
from the penalty. penalty in Section D. Section C will determine if you should
have paid estimated taxes during the
WHY is a penalty charged? The • If you received seasonal income year and the minimum amount required.
Indiana income tax system is a “pay (i.e., you had fireworks sales, you
as you go” system. Many taxpayers worked during a Christmas season, Line 1 – 2023 Tax: Add together
have enough taxes withheld from their etc.) that is not evenly received the state adjusted gross income tax
income throughout the year to cover throughout the year, you might want and county income tax from lines 8
their year-end total tax due. However, to complete Schedule IT-2210A, and 9 of either Form IT-40 or Form
if you don’t have taxes withheld Annualized Income Schedule. IT-40PNR, any recapture of certain
from your income, or if you don’t Annualization could possibly Indiana credits from line 3 of Indiana’s
have enough tax withheld from your reduce your required installment Schedule 4 or Schedule E, plus
income, you may owe a penalty for tax payments. You may download any nonresident professional team
underpaying estimated tax. Schedule IT-2210A from the member’s county tax from Schedule E,
following web address: line 4. Enter the total here.
WHO should use Schedule IT-2210? www.in.gov/dor/tax-forms/2023-
You should complete this schedule if: individual-income-tax-forms/. Line 2 – 2023 Credits: Add together

• The amount you owe for tax year Section A – Farmers and any credits from lines 5 through 12 of
Indiana’s Schedule 5 or Schedule F,
2023, after credits, is $1,000 or
Fishermen plus any offset credits from line 8 of
more. The amount you owe is from
If at least two-thirds of your gross Indiana’s Schedule 6 or Schedule G.
Form IT-40 and Form IT-40PNR,
income for 2022 or 2023 was from Enter the total here.
line 15 minus line 14, or farming or fishing, you have only one
payment due date for 2023 estimated
• You underpaid the minimum tax - Jan. 16, 2024. Line 4 – To determine 90% of your
amount due for one or more of the total expected tax, multiply line 3 by
installment periods. This is true To meet an exception to the 90% (.90).
even if you are due a refund. underpayment penalty for 2023, you
may use Option 1 or Option 2. Note. If at least 2/3 of your gross in-
HOW much is the penalty? The come is from farming or fishing, multi-
penalty is 10% of the underpayment If you are eligible for treatment as a ply line 3 by 66 2/3% (.667).
for each underpaid installment period. farmer or fisherman, please mark “F”
That is why Section E of this schedule in the box on Line 20a of Form IT-40 Line 5 – 2023 Withholding and Pass
is set up by periods, and should be or Form IT-40PNR. Through Entity Tax: Add together
filled out one column at a time. any state and county withholding
Option 1 – Pay all your estimated tax amounts from lines 1 and 2 along with
WHAT DO I NEED to complete this by Jan. 16, 2024, and file your Form any pass through entity tax (PTET)
form? You’ll need a copy of: IT-40 by April 15, 2024, OR from line 3 of Indiana’s Schedule 5 or
• Your completed 2023 Form IT-40 or Schedule F. Enter the total here.
Form IT-40PNR, Option 2 – File your Form IT-40 by
March 1, 2024, and pay all the tax Line 6 – Subtract line 5 from line 3. If
• Your 2022 Form IT-40 or Form IT- due. You are not required to make an this amount is less than $1,000, you
40PNR, and estimated tax payment if you choose do not owe a penalty. Stop here and
this second option. If you pay all the keep a copy as DOR may request to
• Records of actual estimated tax tax due, you will not be penalized for see it at a later date.
payments you made for 2023. failure to pay estimated tax.

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Line 7 – Prior Year’s Tax Example for when 2022 Form IT-40PNR was filed as a part-year resident: If you filed
Exception: See if you are eligible for a 2022 Form IT-40PNR as a part-year resident of Indiana, you must figure the tax for that
any of the following exceptions. 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
• If you filed a 2022 Form IT-40, resident. Then figure the state tax and county tax, if applicable, by 1) subtracting your 2023
add the tax from lines 8 and 9; exemptions from the result and 2) multiplying that total by the combined state and applicable
subtract the total of the credits county tax rate(s) from your 2023 Indiana individual income tax return. See the example
on line 13 plus any amounts on below. Note. See CAUTION box below.
Schedule 5, lines 4 through 11.
Enter the result here. Note. See Example
CAUTION box below. • 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.
• If you filed a 2022 Form • Her 2023 total exemptions are $3,500.
IT-40PNR as a full-year • The 2023 adjusted gross income tax rate is 3.15% (.0315). Her 2023 county tax rate
nonresident, add the tax from
is .01 (for a 4.15% [.0415] combined state and county tax rate).
lines 8 and 9; subtract the total
of the credits on line 13 plus any Use Steps 1 - 4 below to figure her prior year’s tax exception for line 7 of the IT-2210.
amounts on Schedule F, lines 4
through 11. Enter the result here. $ 10,000 2022 Indiana income
Step 1
Note. See CAUTION box below x 12 months
$ 120,000 annualized income
• If your federal AGI for 2022 was
more than $150,000 ($75,000
if married filing separately) and $ 120,000 annualized income
Step 2
you are not subject to the special ÷ 3.5 months of 2022 residency
rules for farmers or fishermen, 34,286
enter the result multiplied by
110% (1.10). See the CAUTION
box on this page for this Step 3 $ 34,286
calculation. - 3,500 2023 exemptions
30,786
• If you filed a 2022 Form IT-
40PNR as a part-year resident
of Indiana, you must figure the Step 4 $ 30,786
tax for that year on an annualized x 4.15% 2023 combined state and county tax rate
basis. See the instruc tion and $ 1,278*
Example for when 2022 Form IT-
40PNR was filed as a part-year * The $1,278 Step 4 amount should be entered as an exception on line 7 of
resident in the right-hand column. Jane’s Schedule IT-2210.

• If you did not file a 2022 tax
return, enter “N/A” for line 7 and
see instructions for line 8.
CAUTION. If your 2022 federal adjusted gross income is more than $150,000 ($75,000
if your 2022 filing status is married filing separately), and you are not subject to the
Line 8 – Minimum required annual
payment: Enter the lesser of line 4 or special rules for farmers and fishermen, you must enter 110% of last year’s tax (instead
line 7. If the line 7 entry is N/A, enter of 100%) on line 7.
the amount from line 4 on this line.
Continue to Section D or Section E, Example. Chris and Kate’s 2022 federal adjusted gross income is $158,000. They must take
whichever applies. 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
Section D – Short Method
b) 2022 IT-40 credits (line 13 plus Schedule 5, lines 4 through 10) - 1,952
You can use the short method only if:
c) Subtotal .......................................................................................$ 5,000
• You made no estimated tax d) Exception to the penalty percentage ...........................................x 110%
e) Amount for line 7 of Schedule IT-2210 ........................................$ 5,500
payments, or
• You paid estimated tax in four Note. If Chris and Kate’s 2022 federal adjusted gross income is less than or equal to
equal amounts by the due dates, $150,000, they would enter $5,000 instead of $5,500 on line 7.
or
2

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• At least two-thirds of your gross Line 16 – 2023 Estimated Taxes Example. Dana had a $100
income from 2022 or 2023 was from Paid: Enter the actual amount of underpayment on line 19, Column A.
farming or fishing and an estimated estimated tax you timely paid for each She had a $130 overpayment on line
tax payment (if any) was made by installment period. Payments made 18, Column B. The net overpayment
Jan. 16, 2024. after the due dates are to be reported from the first two installment periods is
in the next column. $30 ($130 minus $100). She will add
You can’t use the short method if this net overpayment to any estimated
either of the following applies: Example. Joe paid $800 in estimated tax paid for the third installment period
taxes for 2023. His third installment on line 16, Column C.
• You made any estimated tax payment of $200 was not made until
payments late, or Oct. 1 (after the Sept. 15 due date). Line 19 – Installment Period
• You made estimated payments in The $200 payment should be reported Underpayment: If the total payment
unequal amounts. as a 4th period installment payment. (line 17) is less than the required tax
(line 14) for an installment period,
Section E – Regular Method Note for Early Filers. If you file your enter the difference on this line.
Use the regular method if you aren’t individual income tax return and pay
eligible to use the short method. the tax due by Jan. 31, 2024, you Line 21 – Underpayment Penalty
will not be required to make a 4th This amount must also be entered
If you are a fiscal year taxpayer, you installment estimated tax payment. on line 20 of your 2023 Form IT-40 or
must change the dates in Columns You should include on line 16, Column Form IT-40PNR.
A through D to correspond with your D, the amount of tax you paid with
fiscal year. your tax return (Form IT-40 or Form Who Must Submit Schedule
IT-40PNR) minus any household IT-2210?
Line 14 – Minimum Required employment tax, use tax, recapture • A farmer/fisherman utilizing
Installment: Divide the amount on line of certain Indiana credits, nonresident Section A, Option 1 or 2
8 by four and enter the result in each professional team member’s county
column. tax from Schedule F, and/or the • Early filers checking box in
amount shown on the return to be Section B
If you are filing this year as a part- applied to your 2024 estimated tax
year resident on Form IT-40PNR, you account. • Anyone completing Section D or
must divide line 8 by the number of Section E.
installment periods during which you Line 17 – Total Installment
were a resident of Indiana. Payments Important. If you are filing your
To determine your total installment IT-40 or IT-40PNR by mail, you
Installment Periods Are: payments, add lines 15 and 16 in each must enclose a copy of Schedule
1st Period ......Jan. 1 to March 31 column and enter that column’s total IT-2210 to your tax return if you are
2nd Period .....April 1 to May 31 here. claiming an exception to the penalty
3rd Period ......June 1 to Aug. 31 for the underpayment of estimated
4th Period ......Sept. 1 to Dec. 31 Line 18 – Installment Period tax.
Overpayment: If the total payment (line
Line 15 – 2023 Withholding and 17) is more than the required payment
PTET due (line 14) for an installment period,
To determine your installment period enter the difference on this line. This
withholding credit, divide the amount amount should then be added to line
on line 5 by four and enter the result 16 in the next column after subtracting
in each column. See Income Tax any underpayment(s) shown on line
Information Bulletin #3 for special 19 in the previous column(s).
instructions related to withholding that
does not occur evenly throughout Note. If, after subtracting any
the year or for withholding and PTET underpayments, this amount is less
for nonresidents by partnerships, S than zero, no overpayment will be
corporations, estates, or trusts. available to carry over to the next
installment period. Also, do not carry
STOP. Complete lines 16 through 19 over a negative figure if this amount is
for each column before going to the less than zero.
next column.

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