9403

Federal Tax Return Calculator & Estimator

Adjustments
Itemized Deductions
Credits
Payments
  • HSA Deduction
  • Self Employment Health Insurance Deduction
  • Alimony
  • Student Loan Interest
  • IRA Contributions
  • Moving Expenses (Military Only)
  • Medical Expenses
  • Real Estate Taxes
  • Personal Property Tax Paid
  • Mortgage Interest & Points Paid
  • Gifts to Charity
  • Child Care Expenses
  • Number of Children Cared For
  • Student Education Expenses
  • Repayment of 2008 First Time Homebuyer Credit
  • Federal Income Taxes Withheld From Unemployment Compensation
  • Other Federal Income Tax Paid

If you're self-employed and you pay premiums for health insurance coverage for yourself and your family, you're able to deduct a portion of those premiums. For the current year you are allowed a deduction of 100 percent of the amount of premiums to the extent you have self-employment income. However, if your net income from self-employment is a loss for the year, you cannot deduct your health insurance cost.

You may deduct the alimony or separate maintenance payments you are required to make to your spouse or former spouse, or to a third party on behalf of that spouse. Alimony payments you make under a divorce or separation instrument, such as a divorce decree or a written agreement incident thereto, are deductible if all of the following requirements are met:
  • You and your spouse or former spouse do not file a joint return with each other,
  • You pay in cash (including checks or money orders),
  • The divorce or separation instrument does not say that the payment is not alimony,
  • If legally separated under a decree of divorce or separate maintenance, you and your former spouse are not members of the same household when you make the payment,
  • You have no liability to make any payment (in cash or property) after the death of your spouse or former spouse; and
  • Your payment is not treated as child support. Child support is never deductible.

Enter your student loan interest paid (or that will be paid) during the year The maximum amount of student loan interest that is deductible for the year is $2,500. Your student loan interest deduction may be reduced or eliminate depending on your income (AGI) level.

You and your spouse may be able to take a deduction for contributions that you make to your IRA up to a maximum of $5,500 (or $6,500 if you or your spouse is 50 and over). However, if at any time during the year you (or your spouse) are covered by a qualified retirement plan at work, your IRA deduction may be reduced or eliminated depending on your filing status and the amount of your income. Refer to IRS Publication 590 for additional information. We compute only the traditional IRA contributions. Roth IRA contributions are never deductible on your tax return.

If you (or your spouse) was active duty military and had any unreimbursed moving expenses enter those here. Beginning in 2018 only certain military related moves are eligible for the deduction.
Yes
No
Yes
No

If you paid someone to care for a child or a dependent so you could work, you may be able to reduce your federal income tax by claiming the credit for child and dependent care expenses on your tax return. This credit is available to people who, in order to work or to look for work, have to pay for child care services for dependents under age 13. The credit is also available if you paid for care of a spouse or a dependent of any age that is physically or mentally incapable of self-care.


To claim the credit for child and dependent care expenses, you must meet the following conditions:
  • You must have earned income from wages, salaries, tips or other taxable employee compensation, or net earnings from self-employment. If you are married, both you and your spouse must have earned income, unless one spouse was either a full-time student or was physically or mentally incapable of self-care.
  • The payments for care cannot be paid to someone you can claim as your dependent on your return or to your child who is under age 19.
  • Your filing status must be single, head of household, qualifying widow(er) with a dependent child, or married filing jointly.
  • The care must have been provided for one or more qualifying persons identified on the form you use to claim the credit.
  • You (and, if you're married, your spouse) must maintain a home that you live in with the qualifying child or dependent
Enter the total number of dependents for which you incurred child/dependent care expenses. Total expenses are limited to $3,000 for one child or $6,000 for two or more. These expenses must be reduced by the amount of any dependent care benefits provided by your employer that you exclude from your income.

Enter any qualified education expenses paid for tuition and course material for the education for possible education credits. Eligible institutions include most accredited post-secondary schools in the U.S. and some schools outside the U.S that are eligible to participate in the U.S. Department of Education Federal Student Aid program.. Eligible students include the taxpayer, spouse, or dependent(s) claimed on tax return. You can claim credit for expenses you paid and for expenses paid by your dependent student, including direct payments to the school by grandparents or other third parties that are treated as paid by the student. (See IRS Publication 970 for more information).

This credit is phased out between $160,000 and $180,000 for a married filing joint couple; and between $80,000 and $90,000 for all other filing statuses.

If you received a First Time Homebuyer Credit on your 2008 tax return, you should have started already repaying this starting on your 2010 tax year return. You are to repay the credit over 15 years. Calculate the amount of repayment by dividing the credit taken in 2008 by '15'.
Yes
No
Yes
No
Yes
No
Include on this line the state and local income taxes listed below:
  • State and local income taxes withheld from your job on Form W-2. If you received or expect to receive Form W-2G, 1099-G, 1099-R, and 1099-MISC these may also show state and local income taxes withheld.
  • State and local income taxes you paid in {{ Model.Calculator.Model.taxYear }} for a prior year, such as taxes paid with your {{ Model.Calculator.Model.taxYear - 1 }} state or local income tax return. Do not include penalties or interest.
  • State and local estimated tax payments you made during {{ Model.Calculator.Model.taxYear }}, including any part of a prior year refund that you chose to have credited to your {{ Model.Calculator.Model.taxYear }} state or local income taxes.
  • Mandatory contributions you made to the California, New Jersey, or New York Nonoccupational Disability Benefit Fund, Rhode Island Temporary Disability Benefit Fund, or Washington State Supplemental Workmen's Compensation Fund.
  • Mandatory contributions you made to the Alaska, New Jersey, or Pennsylvania state unemployment funds.
Married Filing Jointly
Married Filing Separately
Married Filing Jointly
You may claim the status Married Filing Jointly if any of the following is true:
  • You were married as of December 31, {{ Model.Calculator.Model.taxYear }}, even if you did not live with your spouse at the end of {{ Model.Calculator.Model.taxYear }}.
  • Your spouse died in {{ Model.Calculator.Model.taxYear }} and you did not remarry in {{ Model.Calculator.Model.taxYear }}.
  • Your spouse died in {{ Model.Calculator.Model.taxYear + 1 }} before filing a {{ Model.Calculator.Model.taxYear }} return.

A husband and wife may file a joint return even if only one had income or if they did not live together all year. If you file a joint return, both you and your spouse are generally responsible for the tax and any interest or penalties due on the return. This means that if one spouse does not pay the tax due, the other may have to.

Married Filing Separately

If you are married and decide to file a separate tax return, you will usually pay more tax than if you use another filing status that you qualify for. Also, if you file a separate return, you cannot take the student loan interest deduction, tuition and fees deduction, education credits, or earned income credit. You also cannot take the standard deduction if your spouse itemizes deductions.

Head of Household
Qualifying Widow(er)
Neither Apply

Head of Household
This filing status is for unmarried individuals who provide a home for certain other persons such as their child or parent. A married individual who lived apart from their spouse may also qualify (see IRS instructions for Head of Household Filing Status for additional information.

Qualifying Widow(er)
You may claim Qualified Widow(er) filing status if all five of the following apply:

  1. Your spouse died in {{ Model.Calculator.Model.taxYear - 2 }} or {{ Model.Calculator.Model.taxYear - 1 }} and you did not remarry in {{ Model.Calculator.Model.taxYear }}
  2. You have a child, adopted child, stepchild, or foster child whom you claim as a dependent.
  3. This child lived in your home for all of {{ Model.Calculator.Model.taxYear }}. Temporary absences such as for school, vacation, or medical care, count as time lived in the home.
  4. You paid over half the cost of keeping up your home.
  5. You could have filed a joint return with your spouse the year he or she died, even if you did not actually do so.

Single (Neither Apply)
You may claim the status Single if any of the following are true:

  • You were never married.
  • You were legally separated, according to your state law, under a decree of divorce or separate maintenance.
  • You were widowed before January 1, {{ Model.Calculator.Model.taxYear }}, and did not remarry in {{ Model.Calculator.Model.taxYear }}. But, if you have a dependent child, you may be able to use the qualifying widow(er) filing status.

Yes
No

Enter your medical and dental expenses incurred during the tax year for yourself, your spouse and your dependents for which you were not reimbursed. You may deduct what you paid for prescription medicines and drugs, dentist and medical doctors, ambulance services and travel costs to get medical care, health insurance premiums, X-ray and lab fees, nursing fees, hospital care, a program to stop smoking, etc. Unfortunately, cosmetic surgery that does not serve a medical purpose is not a deductible medical expense

Enter the taxes you paid on real estate you own that was not used for business. Often, your mortgage payment includes amounts allocated to real estate taxes.For further information describing what types of taxes are deductible refer to IRS Publication 17.

Enter any personal property taxes such as those paid on vehicles. This can include automobile license fees to the extent that the fees are based on a percentage of the vehicle's value and are assessed on an annual basis. For further information describing what types of taxes are deductible refer to IRS Publication 17.

Enter the mortgage interest paid on your personal residence including any home equity loan interest. Points paid on the acquisition of a home are generally fully deductible, however points paid on refinancing must be amortized over the life of the loan. For further information refer to IRS Publication 530 and IRS Publication 936

Enter the amount of your charitable contributions for the year including both cash and noncash contributions such as property. This deduction is generally limited to 60% of adjusted gross income.

If you claim a deduction on your return of over $500 for all contributed property, you must attach an IRS Form 8283, to your return. If you donate a car to a charitable organization you will need to obtain and keep evidence of your car donation and be able to substantiate the fair market value of the car. If you are claiming a deduction of $250 or more for the car donation, you will also need a written acknowledgement from the charity that includes a description of the car and a statement of whether the charity provided

Single
Married
Yes
No
Yes
No
IRA/Pensions
Stock/Qualified Dividends
Long/Short Capital Gains
Business Income/(Loss)
Rental Income
Interest/NonStock Dividends
Unemployment
Social Security
Pass-Through (K1)
Other Income

Enter any federal tax withholding on any pension or IRA distributions and can be found on Form 1099-R. This can also be found on other documents or estimated if the 1099-R has not been received yet.

This includes any qualified stock dividends you receive either on stock you own or via certain mutual funds that pay dividends In some cases, this can be determined or estimated from your broker statements. Do not include any dividends earned within an IRA account.

If you sold any stocks or other property such as land or an investment property, enter the net amount of your short-term capital gains or losses for the year. The gain or loss is the difference between the amount you sell it for and your cost basis, which is usually what you paid for it plus any improvements. If the selling price was higher than the cost basis then it is a capital gain, or if the selling price was less than the cost basis, a capital loss. Capital losses on personal property such as a vehicle or personal residence should not be included.

Calculate your net income (or loss) on any self-employment business activity, which is generally income minus any expenses. If the net income also subject to self-employment tax we will include that in the estimate.

Service vs. Non-Service Business

Check the box to indicate if this was a service or non-service business. A service business is generally one where you or your employees provide services. A non-service business generally sells products. Enter any wages you paid to others and the cost of business assets.

Enter your net rental income (or loss) based on your gross rents received less expenses. Also enter the cost of any assets.

Taxable interest includes interest from banks, savings and loan associations, money market certificates, credit unions, savings bonds, seller-financed mortgages, etc. This also includes dividends paid on credit union accounts. Do not include interest earned within an IRA account.

Enter any unemployment compensation you received or expect to receive during the year including any railroad unemployment. Do not include any workers compensation or disability payments.

Enter the total amount of any Social Security benefits you expect to receive or have received for the entire year. If you are using this estimator after January {{ Model.Calculator.Model.taxYear }}, you can generally find your Social Security benefits on Forms SSA-1099 or RRB-1099. Based on the other income you have we will calculate the taxable portion of the Social Security benefits received.

If you are involved in a partnership or S-Corporation and received or will receive Schedule K-1 enter the income or loss expected here.

Enter any other taxable income you have. This can include such items as:

  • Prizes and awards Gambling winnings (but not reduced by losses)
  • Recovery of a bad debt
  • Fees received for jury duty and precinct election board duty
  • Net operating losses from prior years
  • Bartering income
See IRS Publication 525 for more information on the list of taxable income items that may apply to you.

Business Number Business Income Wages Paid to Others Cost of Business Assets Service/Non-Service
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Business Income
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Wages Paid to Others
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Cost of Business Assets
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Service/Non-Service
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Business #{{ businessIndex + 1 }}

Calculate your net income (or loss) on any self-employment business activity, which is generally income minus any expenses. If the net income also subject to self-employment tax we will include that in the estimate.

Service vs. Non-Service Business

Check the box to indicate if this was a service or non-service business. A service business is generally one where you or your employees provide services. A non-service business generally sells products. Enter any wages you paid to others and the cost of business assets.

If you sold any stocks or other property such as land or an investment property that was held 1 year or more, enter the net amount of your long-term capital gains or losses for the year. The gain or loss is the difference between the amount you sell it for and your cost basis, which is usually what you paid for it plus any improvements. If the selling price was higher than the cost basis then it is a capital gain, or if the selling price was less than the cost basis, a capital loss. Capital losses on personal property such as a vehicle or personal residence should not be included.

If you sold any stocks or other property such as land or an investment property that was held 1 year or less, enter the net amount of your short-term capital gains or losses for the year. The gain or loss is the difference between the amount you sell it for and your cost basis, which is usually what you paid for it plus any improvements. If the selling price was higher than the cost basis then it is a capital gain, or if the selling price was less than the cost basis, a capital loss. Capital losses on personal property such as a vehicle or personal residence should not be included.

Enter any federal tax withholding on any pension or IRA distributions and can be found on Form 1099-R. This can also be found on other documents or estimated if the 1099-R has not been received yet.

Business Number Business Income Wages Paid to Others Cost of Business Assets Guaranteed Payments Service/Non-Service
Business #{{ businessIndex + 1 }} {{ business.k1IncUI | money(0) }} {{ business.k1WgPdUI | money(0) }} {{ business.k1CostAssetsUI | money(0) }} {{ business.k1GrteePmtUI | money(0) }} {{ business.k1SevTypeUI }}
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Business Income
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Wages Paid to Others
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Cost of Business Assets
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Guaranteed Payments
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Service/Non-Service
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No businesses have been added. Click below to add a business.
Business #{{ businessIndex + 1 }}

Business #{{ businessIndex + 1 }}

If you are involved in a partnership or S-Corporation and received or will receive Schedule K-1 enter the income or loss expected here.

Taxable interest includes interest from banks, savings and loan associations, money market certificates, credit unions, savings bonds, seller-financed mortgages, etc. This also includes dividends paid on credit union accounts. Do not include interest earned within an IRA account.

Enter any other taxable income you have. This can include such items as:

  • Prizes and awards Gambling winnings (but not reduced by losses)
  • Recovery of a bad debt
  • Fees received for jury duty and precinct election board duty
  • Net operating losses from prior years
  • Bartering income
See IRS Publication 525 for more information on the list of taxable income items that may apply to you.

Rental Number Rental Income Cost of Business Assets Trade or Business
Rental #{{ businessIndex + 1 }} {{ business.rentIncUI | money(0) }} {{ business.rentCostAssetsUI | money(0) }} YesNo
No rentals have been added. Click below to add a rental.
Rental Income
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Cost of Business Assets
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Trade or Business
YesNo
No rentals have been added. Click below to add a rental.
Rental #{{ businessIndex + 1 }}

Enter your net rental income (or loss) based on your gross rents received less expenses. Also enter the cost of any assets.

Enter the total amount of any Social Security benefits you expect to receive or have received for the entire year. If you are using this estimator after January {{ Model.Calculator.Model.taxYear }}, you can generally find your Social Security benefits on Forms SSA-1099 or RRB-1099. Based on the other income you have we will calculate the taxable portion of the Social Security benefits received.

This includes any qualified stock dividends you receive either on stock you own or via certain mutual funds that pay dividends In some cases, this can be determined or estimated from your broker statements. Do not include any dividends earned within an IRA account.

Enter any unemployment compensation you received or expect to receive during the year including any railroad unemployment. Do not include any workers compensation or disability payments.

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Personal Information
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Income
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Adjustments
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Estimated Refund Estimated Balance Due
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Summary 
Personal Information
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Income
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Adjustments
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