6,300 Estimated Income Tax Gross income (wages, salary, investment income, and other ordinary income) Less adjustments to income (see current tax regulations) $ 46,025 $ 200 59 $ 45,825 Equals adjusted gross income Less standard deduction (use 2016 amounts) or Itemized deductions (whichever total is larger) Itemized deductions (whichever total is larger) Medical expenses (exceeding 10% of AGI) State/local income and property taxes S Mortgage, home equity loan interest 5 Contributions $ Casualty and theft losses $ Moving, job-related, and miscellaneaous expenses (exceeding 2% of AGI) $ Total itemized deductions $ Larger of standard or itemized deductions $ 6,300 Less personal exemptions 4,050 $ 35,475 Equals taxable income Estimated tax Less tax credits Plus other taxes Equals total tax liability Less estimated withholding and payments Equals tax due (or refund) 10 $ $ 0 $ 0 69 S O