Standard deduction (single): $14,600
⚠️ AMOUNT OWED
-$9,806
Tax Calculation Breakdown
💡 Disclaimer: This is an educational estimate. Tax situations are complex and vary by individual circumstances (credits, deductions, filing status). Always consult a tax professional or CPA for accurate tax planning and filing.
📊 Updated: May 6, 2026 · 2026 federal tax brackets included
Tax filing software
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Heads up: This tool gives a quick estimate for planning purposes only. It is not tax advice and does not replace filing software or a tax professional — your actual refund depends on details this calculator doesn't ask about.
How this calculator works
This calculator applies the real 2026 federal tax brackets for your filing status — income is taxed progressively, meaning each portion of your income is taxed at the rate for the bracket it falls into, not one flat rate on the whole amount. It uses the larger of your itemized deductions or the standard deduction for your filing status to get taxable income, then adds a simplified 15% flat rate on any long-term capital gains you enter.
Child tax credits ($2,000 per qualifying child) and other-dependent credits ($500 each) are subtracted from your tax after it's calculated, along with a deduction for student loan interest before taxable income is calculated. FICA (Social Security and Medicare, 7.65% of gross income) is added on top since it isn't affected by deductions or credits. Your refund (or amount owed) is simply your total federal tax withheld minus your total calculated tax liability.
Refund or amount owed
taxableIncome = grossIncome − studentLoanInterest − max(itemizedDeductions, standardDeduction)
incomeTax = progressive bracket calculation on taxableIncome (+ 15% × capitalGains)
taxLiability = max(0, incomeTax − childCredits) + FICA(7.65% × grossIncome)
refund = max(0, withheld − taxLiability) | owed = max(0, taxLiability − withheld)
How to use it
- 1.Enter your gross income and select your filing status.
- 2.Enter itemized deductions only if they exceed your standard deduction — otherwise leave at 0 and the standard deduction is used automatically.
- 3.Enter the number of children under 17 and other dependents you're claiming.
- 4.Enter your federal tax withheld from pay stubs (usually on your final pay stub of the year, or your W-2 once available).
- 5.Open Advanced Options to add student loan interest or long-term capital gains if they apply to you.
Common mistakes
- ⚠Entering itemized deductions that don't exceed the standard deduction — the calculator automatically uses whichever is larger, so entering a small itemized number below the standard deduction has no effect on the result — leave it at 0 unless your itemized total is genuinely higher.
- ⚠Forgetting to enter withholding — the refund/owed figure is meaningless without a withholding number — check your last pay stub of the year or your W-2 for the "federal income tax withheld" box.
- ⚠Assuming this covers every credit — this tool only models the child tax credit and other-dependent credit — it doesn't account for the Earned Income Tax Credit, education credits, or other credits that could change your real refund meaningfully.
- ⚠Treating capital gains tax as exact — the 15% rate used here is the most common long-term capital gains rate, but your actual rate depends on total income and could be 0%, 15%, or 20% — check your bracket if capital gains are a significant part of your income.
Frequently asked questions
Does this use real IRS tax brackets?▾
Yes — federal income tax is calculated progressively using the 2026 bracket structure for your filing status, so different portions of your income are taxed at their corresponding bracket rate rather than one flat rate applied to everything.
What credits does this calculator include?▾
It includes the child tax credit for children under 17 and a smaller credit for other dependents, both subtracted directly from your calculated tax. It does not include the Earned Income Tax Credit, education credits, or other less common credits.
Why is my estimated refund different from what my tax software calculated?▾
This is a simplified model — it doesn't account for every credit, deduction, or filing nuance a full tax preparation service handles. Use it to get a ballpark figure early, then rely on actual filing software or a professional for your real return.
Should I enter itemized or standard deduction?▾
Enter your itemized total only if it's genuinely higher than the standard deduction for your filing status (shown next to the input). The calculator automatically uses whichever is larger, so there's no downside to leaving it at 0 if you're not itemizing.
What counts as "federal tax withheld"?▾
It's the total federal income tax your employer already deducted from your paychecks over the year — found in Box 2 of your W-2, or by adding up the "federal tax withheld" line across your pay stubs.
Is this tax advice?▾
No. This tool is for general estimation and planning only. For anything that depends on getting your exact tax situation right, consult a licensed tax professional or use official filing software.