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Schedule                                      Indiana Department of Revenue                                         Enclosure   
IT-2210                    2024 Underpayment of Estimated Tax by Individuals                                  Sequence No. 13
State Form 46002 
(R25 / 9-24)                              Enclose with Form IT-40 or Form IT-40PNR.
Name(s) shown on Form IT-40/Form IT-40PNR                                                Your Social Security Number

Section A – Farmers and Fishermen Only – See Instructions
Annual Gross Income                           Two-Thirds of                   Gross Income from 
from All Sources                              Gross Income            Farming and Fishing

2023                       00      X  66.7% =                    00                       00
2024                       00      X  66.7% =                    00                       00
Section B – Early Filers
Check box if you filed your 2024 tax return and paid the total tax due by Jan. 31, 2025.

Section C – Required Annual Payment                                                                           Round all entries
1.  2024 tax  ________________________________________________________________________                   1            00
2.  2024 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.  2024 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 2024 ____________    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
Section E – Regular Method                                       Installment Period Due Dates
                                          Column A               Column B                 Column C            Column D
                                          1st Installment   2nd Installment               3rd Installment     4th Installment 
                                          April 15, 2024         June 17, 2024           September 16, 2024   January 15, 2025
14. Minimum required installment payment. 
Divide amount on line 8 by 4 ______                00                          00                        00           00
15. 2024 withholding and PTET -  
Divide line 5 by 4 ______________                  00                          00                        00           00
STOP! Complete lines 16 through 19 for each column before going to the next one.
16. 2024 estimated taxes paid per 
period _______________________                     00                          00                        00           00
17. Total installment payments 
(add lines 15 and 16) ___________                  00                          00                        00           00

18. Installment period overpayment ___             00                          00                        00           00

19. Installment period underpayment  _             00                          00                        00           00

20. Total underpayment. Add line 19, Columns A + B + C + D and enter total here  ______________________               00

21. Underpayment penalty. Multiply line 20 by 10%. Enter this amount on line 20 on Form IT-40 or IT-40PNR ___         00

                                          *24100000000*
                                                          24100000000

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Instructions for Schedule IT-2210, Underpayment of
Estimated Tax by Individuals
What is the purpose of Schedule IT-2210? What else do i need to know about this Section B – Early Filers
This schedule is used for one of two schedule? If you file your individual income tax return
reasons: and pay the tax due by Jan. 31, 2025,
1. To help you figure any penalty you • If you are a farmer or fisherman, you you will not be required to make a fourth
owe for not paying enough tax should review Section A below and installment estimated tax payment. For
throughout the year, or Section D - Short Method instructions additional information see the instructions
on page 2. for line 16.
2. To show you paid enough tax
throughout the year to be exempt from • All taxpayers need to know about the Section C – Required Annual Payments
the penalty. short method of figuring the penalty in Section C will determine if you should have
Section D. paid estimated taxes during the year and
Why is a penalty charged? the minimum amount required.
The Indiana income tax system is a “pay • If you received seasonal income (i.e.,
as you go” system. Many taxpayers have you had fireworks sales, you worked Line 1 – 2024 Tax. Add together the
enough taxes withheld from their income during a Christmas season, etc.) that state adjusted gross income tax and
throughout the year to cover their year- is not evenly received throughout county income tax from lines 8 and 9 of
end total tax due. However, if you don’t the year, you might want to complete either Form IT-40 or Form IT-40PNR, any
have taxes withheld from your income, or Schedule IT-2210A, Annualized recapture of certain Indiana credits from
if you don’t have enough tax withheld from Income Schedule. Annualization line 3 of Indiana’s Schedule 4 or Schedule
your income, you may owe a penalty for could possibly reduce your required E, plus any nonresident professional team
underpaying estimated tax. installment tax payments. You may member’s county tax from Schedule E, line
download Schedule IT-2210A from the 4. Enter the total here.
Who should use Schedule IT-2210? following web address:
You should complete this schedule if: www.in.gov/dor/tax-forms/individual/ Line 2 – 2024 Credits. Add together any
• The amount you owe for tax year current. credits from lines 5 through 11 of Indiana’s
2024, after credits, is $1,000 or more. Schedule 5 or Schedule F, plus any offset
The amount you owe is from Form IT- Section A – Farmers and Fishermen credits from line 8 of Indiana’s Schedule 6
40 and Form IT-40PNR, line 15 minus If at least two-thirds of your gross income or Schedule G. Enter the total here.
line 14, or for 2023 or 2024 was from farming or
fishing, you have only one payment due Line 4. To determine 90% of your total
• You underpaid the minimum amount date for 2024 estimated tax - Jan. 15, expected tax, multiply line 3 by 90% (.90).
due for one or more of the installment 2025.
periods. This is true even if you are Note. If at least 2/3 of your gross in come
due a refund. To meet an exception to the underpayment is from farming or fishing, multi ply line 3 by
penalty for 2024, you may use Option 1 or 66 2/3% (.667).
How much is the penalty? Option 2.
The penalty is 10% of the underpayment Line 5 – 2024 Withholding and Pass
for each underpaid installment period. That If you are eligible for treatment as a farmer Through Entity Tax. Add together any
is why Section E of this schedule is set up or fisherman, please mark “F” in the box on state and county withholding amounts from
by periods, and should be filled out one Line 20a of Form IT-40 or Form IT-40PNR. lines 1 and 2 along with any pass through
column at a time. entity tax (PTET) from line 3 of Indiana’s
Option 1. Pay all your estimated tax by Schedule 5 or Schedule F. Enter the total
What do I need to complete this form? Jan. 15, 2025, and file your Form IT-40 by here.
You’ll need a copy of: April 15, 2025, OR
• Your completed 2024 Form IT-40 or Line 6. Subtract line 5 from line 3. If this
Form IT-40PNR, Option 2. File your Form IT-40 by March amount is less than $1,000, you do not
3, 2025, and pay all the tax due. You are owe a penalty. Stop here and keep a copy
• Your 2023 Form IT-40 or Form IT- not required to make an estimated tax as DOR may request to see it at a later
40PNR, and payment if you choose this second option. date.
If you pay all the tax due, you will not be
• Records of actual estimated tax penalized for failure to pay estimated tax.
payments you made for 2024.

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Line 7 – Prior Year’s Tax Exception. See Example for when 2023 Form IT-40PNR was filed as a part-year resident. If you filed
if you are eligible for any of the following a 2023 Form IT-40PNR as a part-year resident of Indiana, you must figure the tax for that
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 2023 Form IT-40, add resident. Then figure the state tax and county tax, if applicable, by 1) subtracting your
the tax from lines 8 and 9; subtract 2024 exemptions from the result and 2) multiplying that total by the combined state and
the total of the credits on line 13 plus applicable county tax rate(s) from your 2024 Indiana individual income tax return. See the
any amounts on Schedule 5, lines example below. Note. See CAUTION box below.
4 through 11. Enter the result here.
Note. See CAUTION box below.
Example.
• Jane moved to Indiana on Sept. 15, 2023, so she was a resident for 3.5 months.
• If you filed a 2023 Form IT-40PNR
• Her 2023 Form IT-40PNR line 1 income is $10,000.
as a full-year nonresident, add the
• Her 2024 total exemptions are $3,500.
tax from lines 8 and 9; subtract the
• The 2024 adjusted gross income tax rate is 3.05% (0.305). Her 2024 county tax
total of the credits on line 13 plus
rate is .01 (for a 4.05% [.0405] combined state and county tax rate).
any amounts on Schedule F, lines
4 through 11. Enter the result here.
Use Steps 1 – 4 below to figure her prior year’s tax exception for line 7 of the IT-2210.
Note. See CAUTION box below.
Step 1 $ 10,000 2023 Indiana income
• If your federal AGI for 2023 was
x 12 months
more than $150,000 ($75,000 if
$ 120,000 annualized income
married filing separately) and you are
not subject to the special rules for
farmers or fishermen, enter the result
Step 2 $ 120,000 annualized income
multiplied by 110% (1.10). See the
÷ 3.5 months of 2023 residency
CAUTION box on this page for this
34,286
calculation.

• If you filed a 2023 Form IT-40PNR as
Step 3 $ 34,286
a part-year resident of Indiana, you
- 3,500 2024 exemptions
must figure the tax for that year on an
30,786
annualized basis. See the instruc tion
and Example for when 2023 Form
IT-40PNR was filed as a part-year
Step 4 $ 30,786
resident in the right-hand column.
x 4.05% 2024 combined state and county tax rate
$ 1,247*
• If you did not file a 2023 tax return,
enter “N/A” for line 7 and see
* The $1,247 Step 4 amount should be entered as an exception on line 7 of
instructions for line 8.
Jane’s Schedule IT-2210.
Line 8 – Minimum required annual
payment. Enter the lesser of line 4 or line
CAUTION. If your 2023 federal adjusted gross income is more than $150,000
7. If the line 7 entry is N/A, enter the amount
($75,000 if your 2023 filing status is married filing separately), and you are not subject
from line 4 on this line. Continue to Section
to the special rules for farmers and fishermen, you must enter 110% of last year’s tax
D or Section E, whichever applies.
(instead of 100%) on line 7.
Section D – Short Method
Example. Chris and Kate’s 2023 federal adjusted gross income is $158,000. They
You can use the short method only if:
must take the following steps to arrive at the exception amount for line 7:
• You made no estimated tax payments,
a. 2023 IT-40 total income tax (line 8 plus line 9)........................... $ 6,952
or
b. 2023 IT-40 credits (line 13 plus Schedule 5, lines 4 through 10) ..- 1,952
c. Subtotal ...................................................................................... $ 5,000
• You paid estimated tax in four equal
d. Exception to the penalty percentage .......................................... x 110%
amounts by the due dates, or
e. Amount for line 7 of Schedule IT-2210 ....................................... $ 5,500
• At least two-thirds of your gross income
Note. If Chris and Kate’s 2023 federal adjusted gross income is less than or equal to
from 2023 or 2024 was from farming or
$150,000, they would enter $5,000 instead of $5,500 on line 7.
fishing and an estimated tax payment
(if any) was made by Jan. 15, 2025.

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You can’t use the short method if either of Line 16 – 2024 Estimated Taxes Paid. Example. Dana had a $100 underpayment
the following applies: Enter the actual amount of estimated tax on line 19, Column A. She had a $130
you timely paid for each installment period. overpayment on line 18, Column B.
• You made any estimated tax Payments made after the due dates are to The net overpayment from the first two
payments late, or be reported in the next column. installment periods is $30 ($130 minus
$100). She will add this net overpayment
• You made estimated payments in Example. Joe paid $800 in estimated to any estimated tax paid for the third
unequal amounts. taxes for 2024. His third installment installment period on line 16, Column C.
payment of $200 was not made until Oct.
Section E – Regular Method 1 (after the Sept. 15 due date). The $200 Line 19 – Installment Period
Use the regular method if you aren’t payment should be reported as a 4th Underpayment. If the total payment (line
eligible to use the short method. period installment payment. 17) is less than the required tax (line
14) for an installment period, enter the
If you are a fiscal year taxpayer, you must Note for Early Filers. If you file your difference on this line.
change the dates in Columns A through D individual income tax return and pay the
to correspond with your fiscal year. tax due by Jan. 31, 2025, you will not Line 21 – Underpayment Penalty. This
be required to make a 4th installment amount must also be entered on line 20 of
Line 14 – Minimum Required estimated tax payment. You should include your 2024 Form IT-40 or Form IT-40PNR.
Installment. Divide the amount on line on line 16, Column D, the amount of tax
8 by four and enter the result in each you paid with your tax return (Form IT-40 Who Must Submit Schedule IT-2210?
column. or Form IT-40PNR) minus any household • A farmer/fisherman utilizing Section A,
employment tax, use tax, recapture Option 1 or 2
If you are filing this year as a part-year of certain Indiana credits, nonresident
resident on Form IT-40PNR, you must professional team member’s county tax • Early filers checking box in Section B
divide line 8 by the number of installment from Schedule F, and/or the amount shown
periods during which you were a resident on the return to be applied to your 2025 • Anyone completing Section D or
of Indiana. estimated tax account. Section E.

Installment Periods Are: Line 17 – Total Installment Payments. Important. If you are filing your IT-40
1st Period ........... Jan. 1 to March 31 To determine your total installment or IT-40PNR by mail, you must enclose
2nd Period .......... April 1 to May 31 payments, add lines 15 and 16 in each a copy of Schedule IT-2210 to your tax
3rd Period ........... June 1 to Aug. 31 column and enter that column’s total here. return if you are claiming an exception
4th Period ........... Sept. 1 to Dec. 31 to the penalty for the underpayment of
Line 18 – Installment Period. estimated tax.
Line 15 – 2024 Withholding and PTET. Overpayment: If the total payment (line
To determine your installment period 17) is more than the required payment
withholding credit, divide the amount on due (line 14) for an installment period,
line 5 by four and enter the result in each enter the difference on this line. This
column. See Income Tax Information amount should then be added to line 16
Bulletin #3 for special instructions related in the next column after subtracting any
to withholding that does not occur evenly underpayment(s) shown on line 19 in the
throughout the year or for withholding and previous column(s).
PTET for nonresidents by partnerships, S
corporations, estates, or trusts. Note. If, after subtracting any
underpayments, this amount is less than
STOP. Complete lines 16 through 19 for zero, no overpayment will be available to
each column before going to the next carry over to the next installment period.
column. Also, do not carry over a negative figure if
this amount is less than zero.

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