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2026 Tax Calculator

Complete 1040 tax estimator — wages, Social Security, rental income, capital gains, all deductions and credits. Based on 2026 official IRS figures. Resets fresh every visit — nothing is saved or stored.

This page displays the 2026 Federal Income Tax Estimator. Complete coverage of all 1040 income types, deductions, and credits based on IRS Rev. Proc. 2025-32 and the One Big Beautiful Bill Act (OBBBA).

Filing information

Filing status

Children under 17 Qualifying for the $2,200 child tax credit

Other dependents $500 credit each

I will be 65 or older by December 31, 2026 I am legally blind Someone can claim me as a dependent

Age matters more than ever in 2026: each spouse 65+ gets the extra standard deduction plus the new $6,000 senior deduction (phasing out above $75,000 single / $150,000 joint income, not available filing separately). Both apply automatically.

Wages & retirement income

Your wages, salaries, tips (W-2 Box 1)

Your Medicare wages (W-2 Box 5) Only if different from Box 1 — leave $0 to use wages above

Taxable IRA distributions

Taxable pensions & annuities Includes 401(k), 403(b), 457(b) distributions

Roth conversion this year

Social Security benefits received Total — we calculate the taxable portion

SS income adjustments Rare: excluded foreign income, adoption benefits, savings bond interest (Pub 915)

Investment income

Taxable interest

Tax-exempt interest Municipal bonds — affects Social Security taxation & EITC

Ordinary dividends (total)

Qualified dividends Portion of the total — taxed at capital gains rates

Short-term capital gain or loss Minus sign for losses

Long-term capital gain or loss Minus sign for losses

Other gains or losses Form 4797 — sale of business assets

Net capital losses are limited to $3,000 against other income; long-term gains and qualified dividends stack into the 0% / 15% / 20% brackets automatically.

Business & farm income

Your business net profit or loss Schedule C & Schedule E subject to SE tax

Farm income or loss (Schedule F) Subject to SE tax

Self-employed health insurance

Self-employed SEP / SIMPLE / qualified plans

Intangible drilling costs (IDC) Oil & gas general partners — income reduction

Self-employment tax (2026 wage base $184,500, coordinated with each person's W-2 wages), the ½ SE-tax deduction, and the 20% QBI deduction are calculated automatically — including the QBI phase-down above $201,775 / $403,500 of taxable income.

Rental & other income

Passive rentals, royalties, S-corps (Schedule E) Passive activities — subject to the 3.8% NIIT

Non-passive Schedule E income Material participation — not subject to NIIT

My non-passive Schedule E activity rises to a trade or business (QBI-eligible)

Unemployment compensation

Alimony received Taxable only for divorces finalized before 2019

Taxable state/local tax refunds Only if you itemized income taxes last year

Other taxable income Gambling winnings, prizes, canceled debt, jury duty

Adjustments to income

Traditional IRA deduction

HSA contributions (Form 8889)

Student loan interest Max $2,500; phases out $85–100k ($175–205k joint); not allowed filing separately

Alimony paid Deductible only for pre-2019 divorces

Educator expenses Up to $350 ($700 if both spouses teach)

Employee business expenses Form 2106 — reservists, performing artists

Penalty on early withdrawal of savings From 1099-INT / 1099-OID

Other adjustments Archer MSA, military moving expenses, etc.

The ½ self-employment tax deduction, SE health insurance, and SEP/SIMPLE contributions flow automatically from the Business & Farm tab. The student loan phaseout is applied for you.

Deductions

State & local taxes paid (SALT) Income/sales + property taxes. 2026 cap $40,400 ($20,200 MFS), phasing down above $505,000

Mortgage interest & points On up to $750k of acquisition debt

Charitable gifts — cash Limited to 60% of AGI

Charitable gifts — non-cash Fair market value; limited to 50% of AGI minus cash gifts

Medical & dental expenses Only the portion above 7.5% of income counts

Always itemize — use Schedule A even if the standard deduction is larger (e.g., spouse itemizes separately)

We automatically use whichever is larger: itemized, or standard plus the new non-itemizer charitable deduction ($1,000 / $2,000 joint). The 0.5%-of-AGI charitable floor and the 2/37 reduction for top-bracket itemizers are applied per 2026 law. The results panel shows which route won.

Credits

Dependents needing care Children under 13 or disabled dependents (Form 2441)

Child & dependent care expenses Credit computed automatically (max $3,000 / $6,000 expenses)

Foreign tax credit (Form 1116)

Education credits (Form 8863) Nonrefundable portion

Refundable American Opportunity credit Up to $1,000 per student

Retirement savings credit (Form 8880)

Home energy credits (Form 5695)

Other nonrefundable credits

Earned Income Credit (computed automatically)

Children qualifying for EIC

I (or my spouse) am at least 25 but under 65 — required for EIC with no children

The child tax credit, other-dependent credit, and refundable additional child tax credit (up to $1,700/child) come from your Filing Info tab and are computed automatically, including phaseouts. The EIC applies the 2026 $12,200 investment-income limit.

Other taxes & payments

Early retirement withdrawal penalty Form 5329 — typically 10% of the early distribution

Uncollected SS & Medicare tax Forms W-2 Box 12, 4137, 8919

Household employment taxes (Schedule H)

First-time homebuyer credit repayment (Form 5405)

Excess premium tax credit repayment Form 8962 — Marketplace insurance reconciliation

AMT income adjustments Form 6251 — e.g., incentive stock option exercises; AMT is computed automatically

Payments

Federal tax withheld From W-2s and 1099s

Estimated tax payments

Estimated 2026 federal tax

Adjusted gross income$0

Taxable Social Security$0

Deduction (standard)$0

Senior deduction (new)$0

QBI deduction$0

Taxable income$0

Income tax$0

Alternative minimum tax$0

Credits applied$0

Self-employment tax$0

Net investment income tax$0

Additional Medicare tax$0

Other taxes entered$0

Earned income credit$0

Refundable child credit$0

Total payments & credits$0

Effective rate0%

Marginal bracket—

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Estimates 2026 federal income tax under current law (IRS Rev. Proc. 2025-32 and the One Big Beautiful Bill Act) for all five filing statuses, including the alternative minimum tax, self-employment tax, NIIT, Additional Medicare tax, the earned income credit, and refundable child credits. Does not include state income tax or specialized limitations (passive activity loss rules, at-risk rules, IRA deduction phaseouts, and similar). Results are estimates for planning purposes only and are not tax advice — your actual return may differ. For a personalized strategy, talk with us.

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