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Federal Tax Return Calculator & Estimator

In its simplest form, tax returns are issued when the amount of money being withheld from your paycheck for taxes exceeds the amount you owe the IRS. When this happens, you are due a tax return from the government. Conversely, you may owe if the money you withheld is too low. By entering your information in the 6 steps of the tax calculator below, Liberty Tax will calculate your estimated federal tax return or amount due, and then help you file your return with ease.

 

How Much Will I Get Back on My Tax Return?

Figure out your federal tax return using our Tax Estimator and these 8 easy steps.
  1. Have relevant forms ready to file your taxes including a W-2 and any relevant investment or property documents. Be doubly sure to have the full list of required tax documents ready.
  2. Enter personal information including your filing status and the number of children or dependents you can claim.
  3. Enter your income information. This includes everything from salary to tips, stocks, and pensions.
  4. Enter your adjustments. This includes any expenses you’ve paid, such as HSA contributions or student loan interest.
  5. Enter your deductions. These include mortgage interest, medical expenses, property taxes, or gifts to charity.
  6. Enter any tax credits for which you qualify. This includes child care and education costs.
  7. Enter the payments you have already made in the form of federal income taxes.
  8. View your tax estimator results, and contact a Liberty Tax Office to file your tax return!

General

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1. Filing Status
?

Check here if you are 65 or older.
Check here if you are permanently blind.
Check here if spouse is 65 or older.
Check here if your spouse is permanently blind.

2.Number of Exemptions
?

Include 1 for yourself unless you are claimed by another person, 1 for your spouse (if applicable), and 1 for each dependent child.

3.Children Info
?

Enter the number of children included in line 2 that are under age 17.

4.Health Coverage
A. Number of adults without health care coverage.
B. Number of children without health care coverage.

5.Earned Income Credit
A. Number of children under age 19.
B. Number of children over age 18 and under the age of 24 that are full time students.
C. Number of children over age 18 and disabled.
 

Income

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1.Wages, Salaries and Tips 
?
$
A. Taxpayer 401(k) or other retirement plan contributions from work
?
$
B. Spouse 401(k) or other retirement plan contributions from work
$

2.Interest & Non-Stock Dividends 
?
$

3.Stock/Qualified Dividends 
?
$

4.Short-Term Capital Gains 
?
$

5.Long-Term Capital Gains 
?
$

6.Business Income/(Loss) - Schedule C or F
?
$

7.IRA/Pension Distributions
?
A. Subject to early distribution penalty:
$
B. Not subject to early distribution penalty:
$

8.Unemployment Compensation 
?
$

9.Social Security Benefits 
?
$

10.Other Income 
?

(Gambling income, baby sitting income, etc.)
$
 

Adjustments

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1.Health Savings Account (HSA) Deduction 
?
$

2.Moving Expenses 
?

Expenses incurred plus mileage of 24 cents
per mile.
$

3.Self Employment Health Insurance Deduction 
?
$

4.Alimony Paid 
?
$

5.IRA Contributions 
?

Maximum of $5,500 each for yourself and your spouse ($6,500 if 50 or over).
A. Taxpayer Contributions
$
B. Spouse Contributions
$

6.Student Loan Interest Paid 
?
$
 

Itemized Deductions

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1.Medical Expenses 
?
$

2.Real Estate Taxes 
?
$

3.Personal Property Taxes Paid 
?
$

4.Mortgage Interest & Points Paid 
?
$

5.Gifts to Charity 
?
$

6.Miscellaneous Expenses 
?

Include job hunting expenses, employee business expenses, tax prep fees, safe deposit boxes, etc.
$

7.State Taxes Paid 
?

(Do not include amount from line 6.)
$
 

Credits

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1.Child and Dependent Care Credit
A. Amount paid for child care expenses  
?
$
B. Number of children cared for  
?
   

2.Education Credits 
?

(Enter Tuition and Course Materials Only)
A. Qualified Student 1
$
B. Qualified Student 2
$
C. Qualified Student 3
$
D. Qualified Student 4
$

3.Repayment of ’2008’ First Time Homebuyer Credit 
?
$
 

Payments

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1.Federal Income Taxes Withheld From Wages (Form W-2)
$

2.Federal Income Taxes Withheld From IRA/Pension Distributions
$

3.Federal Income Taxes Withheld From Unemployment Compensation
$

4.Other Federal Income Tax Paid Estimated Tax Payments. 
?
$
 

Results

Refund
$
Balance Due
$

Next Steps

1. Find a Liberty Tax Office Near You
2. Make An Appointment
3. File Your Return - Fast, Easy & Secure!

Calculation Summary

1.Gross Income
$
2.Adjustments to Income
$
3.Adjusted Gross Income
$
4.Exemptions
$
5.Standard/Itemized Deductions
$
6.Taxable Income
$
7.Tax
$
8.Child and Dependent Care Credit
$
9.Education Credit
$
10.Retirement Contribution Credit
$
11.Child Tax Credit
$
12.Self-Employment Tax
$
13.Health Care Penalty
$
14.Total Tax
$
15.Federal Tax Payments
$
16.Earned Income Credit
$
17.Additional Education Credit
$
18.Additional Child Tax Credit
$
19.Repayment of First-Time Homebuyer Credit
$
 

*This Tax Calculator provides only an estimate of your tax refund or tax liability.  It is not designed for use in preparing or submitting your tax returns and any such use is not authorized.   

 

Ready To File?

With over 4,000 locations nationwide and a fast, convenient online platform, you can file your taxes however you’d like. Your experience is 100% guaranteed, no matter how you choose to file!