Estimating your federal income tax starts with your total income from all sources: wages, interest, dividends, capital gains, retirement income, and more. From there, above-the-line deductions reduce that amount to your Adjusted Gross Income (AGI).
Next, you choose between the standard deduction and itemizing (mortgage interest, property tax, charitable donations, and other eligible expenses) — whichever is larger reduces your taxable income further.
Finally, tax credits such as the Child Tax Credit, Child & Dependent Care Credit, and education credits are subtracted directly from your tax bill, which can turn what you owe into a refund.
This calculator reflects 2025 and 2026 tax law, including new provisions from the One Big Beautiful Bill Act (OBBBA): no tax on tips, no tax on overtime, deductible car loan interest, and an additional deduction for seniors.