USA Federal Income Tax Calculator
Tax Year
Tax Filing Status
Qualified Dividend
Short term Capital gain/loss
Long term Capital gain/loss
Capital loss carryforward from previous years (enter as negative number)
property tax paid (if you own house)
Mortgage interest paid (if you own house)
Charity contribution to temple/school/etc
state income tax paid
State sales tax paid
Dependents (you + spouse + kids + any other dependents for tax purpose)
Tax withheld (Line 64 on form 1040)
AGI (line 37 on form 1040)
Itemized or Standard Deduction (line 40 on form 1040)
Exemption (line 42 on Form 1040)
Taxable income (line 43 on Form 1040)
Taxable income subject to regular tax rate
Tax on income subject to regular tax rate
Taxable income subject to lower tax rate
Tax on income subject to lower tax rate
Tax (line 44 on Form 1040)
AGI for AMT purpose (after itemizing)
taxable income for AMT purpose (after std deduction)
possible Tax if calculated under AMT
Extra AMT (line 45 on Form 1040)
Total Tax (line 63 on Form 1040)
Refund (line 75 or line 78 on Form 1040)
Capital loss carry forward (for next year)

Federal Income Tax Caculation

This calculator is to find out Your federal income tax for income within USA. It's a very simplistic calculator. It's only meant for people who are married, filing jointly and have a combined income between $150K - $300K. So, tax filing status only shows returns which are "married filing jointly". Calculator doesn't show Social security tax, medicare tax or state income taxes. It also doesn't show any child credit that you receive for kids. For most simplistic returns, only wages/salries row needs to be filled, since there are no other income sources. Enter the correct number of dependents, and leave all other entries at default of 0. Click on "calculate" to see the results.

  • Enter Wages/Salaries from your W2 form box
  • Enter Total Interest that you received from banks/brokerage firms
  • Enter Dividend and any capital gain/loss from your stock sale (short term is for stocks held less than a year)
  • If you own house, enter Propery tax and Mortgage interest paid
  • Enter all charity contribution, state income tax paid and all sales tax paid. If you do not want to save all sales tax receipt, you can use IRS sales tax calculator to give you a standard sales tax amount that you can use
  • Enter dependents (include you, your spouse, your kids, and any other dependent who passes "residency test".
  • Enter tax withheld from your paycheck. This is used to estimate your refund.