Sherina Smith $($Social Security number $785-23-9873)$ lives at $536$ West Lapham Street, Milwaukee, WI $53204,$ and is self$-$employed for $2023.$ She estimates her $2023$ Schedule C net profit will be $$52,000,$ one$-$half of self$-$employment tax will be $$3,674,$ and her qualified business income deduction will be $$5,505$ in $2023.$ Sherina has no other forms of income or deductions. She has a dependent child aged $15$ and files as head of household. Sherina expects to claim the child tax credit in $2023$ but no other credits. Calculate her annual required payment based on $2023$ estimates using the $2023$ Estimated Tax Worksheet in Appendix F$.$ Complete the worksheet through line $12$a only.

Click here to access the $2023$ Tax Rate Schedules for this problem.

$2023$ Estimated Tax Worksheet Keep for Your Records

$1$ Adjusted gross income you expect in $2023($see instructions$)...............................1$ fill in the blank $1$

$2$a Deductions $...................................................................2$a fill in the blank $2$

$$ If you plan to itemize deductions, enter the estimated total of your itemized deductions.

$$ If you don$$t plan to itemize deductions, enter your standard deduction. $\}$

b If you can take the qualified business income deduction, enter the estimated amount of the deduction $2$b fill in the blank $3$

$5,505$

c Add lines $2$a and $2$b $............................................................2$c fill in the blank $4$

$3$ Subtract line $2$c from line $1........................................................3$ fill in the blank $5$

$4$ Tax. Figure your tax on the amount on line $3$ by using the $2023$ Tax Rate Schedules.

Caution: If you will have qualified dividends or a net capital gain, or expect to exclude or deduct foreign

earned income or housing, see Worksheets $2-5$ and $2-6$ in Pub. $505$ to figure the tax $...............4$ fill in the blank $6$

$5$ Alternative minimum tax from Form $6251............................................5$ fill in the blank $7$

$6$ Add lines $4$ and $5.$ Add to this amount any other taxes you expect to include in the total on Form $1040$

or $1040-$SR$,$ line $16............................................................6$ fill in the blank $8$

$7$ Credits $($see instructions$).$ Do not include any income tax withholding on this line $.................7$ fill in the blank $9$

$8$ Subtract line $7$ from line $6.$ If zero or less, enter $-0-......................................8$ fill in the blank $10$

$9$ Self$-$employment tax $($see instructions$)...............................................9$ fill in the blank $11$

$10$ Other taxes $($see instructions$).....................................................10$

$11$a Add lines $8$ through $10..........................................................11$a fill in the blank $12$

b Earned income credit, additional child tax credit, fuel tax credit, net premium tax credit, refundable American opportunity credit, and section $1341$ credit $.....................................$

$11$b

c Total $2023$ estimated tax. Subtract line $11$b from line $11$a$.$ If zero or less, enter $-0-................11$c fill in the blank $13$

$12$a Multiply line $11$c by $90\%(662/3\%$ for farmers and fishermen$)...........12$a fill in the blank $14$

b Required annual payment based on prior year$$s tax $($see instructions