Your name is used to personalise the PDF report you share with your CPA. It is never transmitted or stored anywhere.

Your filing status determines your tax brackets, standard deduction, and credit eligibility. Required: select the status that matches your situation on December 31 of the tax year. If you were married or widowed during the year, special rules may apply.

Report all income you received during the tax year from every source. Required: enter at least one income amount for the calculator to produce results. Use your W-2s, 1099s, and year-end statements as your source documents. Leave any field blank if that income type does not apply to you.

Income from employment reported on W-2s. Required if employed: enter the total from Box 1 of every W-2 you received. Include tips not reported by your employer (Box 1c) and any other earned wages separately.

Investment income from bank accounts, bonds, and stocks. Enter if applicable: use your 1099-INT for interest and 1099-DIV for dividends. Qualified dividends (Box 1b of 1099-DIV) are taxed at lower capital gains rates and must be less than or equal to your ordinary dividends total.

Money withdrawn from tax-deferred retirement accounts during the year. Enter if applicable: use Box 2a (taxable amount) from your 1099-R forms. IRA withdrawals go on Line 4b; 401(k), pension, and annuity distributions go on Line 5b. Roth withdrawals are generally tax-free and not entered here.

Social Security benefits may be partially taxable depending on your total income. Enter if applicable: enter the total from Box 5 of your SSA-1099. This calculator determines the taxable portion (0%, 50%, or up to 85%) automatically based on your combined income.

Profit or loss from selling investments, property, or other assets. Enter if applicable: long-term gains (assets held over 12 months) are taxed at preferential rates of 0%, 15%, or 20%. Short-term gains (held under 12 months) are taxed as ordinary income. Enter net losses as negative numbers — up to $3,000 of net capital losses can offset ordinary income per year.

Income from freelance work, gig apps (Uber, DoorDash, Etsy), consulting, or any business you run. Enter if applicable: enter your gross earnings first, then deduct eligible business expenses below. You owe both income tax and self-employment tax (15.3%) on your net profit. Half of SE tax is deductible as an adjustment to income.

Adjustments (also called "above-the-line" deductions) reduce your Adjusted Gross Income before your standard or itemized deduction is applied — making them valuable even if you don't itemize. Required: enter any amounts you paid during the year for student loan interest, IRA contributions, HSA contributions, or self-employed health insurance. Leave blank if not applicable.

A deduction reduces your taxable income. You choose the higher of the standard deduction (a flat amount set by the IRS based on filing status) or your itemized deductions (actual expenses like mortgage interest, state taxes paid, and charitable gifts). Required: the standard deduction is applied automatically — only switch to itemized if your Schedule A expenses exceed the standard amount shown above.

Tax credits are more powerful than deductions — they reduce your actual tax bill dollar-for-dollar rather than just reducing taxable income. Refundable credits (EIC, ACTC) can increase your refund beyond $0. Non-refundable credits (CTC, CDCC) can reduce your tax to $0 but not below. Required: enter the number of qualifying children and any care or education expenses that apply to you.

A credit of up to $2,000 per qualifying child under 17 at year-end who is a U.S. citizen and claimed as your dependent. Up to $1,700 per child is refundable as the Additional Child Tax Credit (ACTC) if your earned income exceeds $2,500. The credit phases out at $200,000 AGI ($400,000 for joint filers). Required if applicable: select the number of children who meet all qualifications.

A fully refundable credit for low-to-moderate income workers — it can produce a refund even when no tax is owed. The amount depends on your earned income, filing status, and number of qualifying children. Auto-calculated: no entry needed — the EIC is computed automatically from your income above. Investment income above $11,950 disqualifies you entirely.

The American Opportunity Credit (AOC) provides up to $2,500 per eligible student for the first four years of higher education — 40% is refundable. Enter if applicable: enter qualified tuition and fee expenses paid for yourself, your spouse, or a dependent. Also enter any other credits you are certain you qualify for that are not listed above (e.g. energy credits, adoption credit).

Most states levy their own income tax calculated separately from your federal return. Your state tax is estimated using your federal AGI as the base. Required: select the state where you lived and worked for most of the tax year. If your state has no income tax (e.g. Florida, Texas), selecting it will correctly show $0 state tax.

These are federal income taxes you have already paid during the year through withholding or estimated payments. They are credited against your total tax liability to determine your refund or amount owed. Required: enter the federal tax withheld from Box 2 of each W-2 and Box 4 of any 1099s. Add any quarterly estimated payments you sent to the IRS. Leave blank if none apply.

Use this section to model tax-saving strategies before year-end. A 401(k) or 403(b) contribution reduces your taxable income now; a Roth IRA contribution is made with after-tax dollars but grows tax-free. Optional: enter year-to-date amounts to see how additional contributions would affect your estimated tax bill. The Roth conversion table shows whether converting a traditional IRA balance this year makes mathematical sense given your current marginal rate.