Calculate Your Income Tax Here

You must decide between taking a fixed "standard" deduction or listing specific "itemized" expenses. Choose whichever is higher to lower your taxable income the most. Filing Status Deduction Amount Single / Married Filing Separately Married Filing Jointly Head of Household

: Payments to a Traditional IRA or 401(k). calculate your income tax

Start by adding up every dollar you earned throughout the year. This is your "raw" income before any reductions. You must decide between taking a fixed "standard"

: Contributions made with after-tax dollars. calculate your income tax

: Rental income, gambling winnings, and distributions from retirement accounts. 📉 Step 2: Determine Your Adjusted Gross Income (AGI)

: Up to $2,500 in interest paid on qualified loans.