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Income Tax Calculator

Inputs

Select your tax filing status

Total income from all sources before deductions

Long-term capital gains taxed at preferential rates

Enable standard deduction (uncheck to use itemized)

Total itemized deductions (only used if standard deduction is unchecked)

Dividend income taxed at long-term capital gains rates

Direct reductions in tax liability (child tax credit, EIC, etc)

Total federal income tax already withheld from paychecks

Results

Taxable Income
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Tax on Ordinary Income
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Tax on Capital Gains
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Total Tax Before Credits
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Total Federal Income Tax
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Your estimated federal income tax liability for the year
Effective Tax Rate
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Refund or Amount Owed
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Positive = refund due; Negative = amount owed at tax time
Formula
Taxable Income = Gross Income - Deductions; Ordinary Tax = Apply 2024 brackets to ordinary income; Capital Gains Tax = Apply preferential rates (0%, 15%, 20%) to gains; Total Tax = Ordinary Tax + Capital Gains Tax - Credits; Refund/Owed = Withholding - Total Tax
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