Federal Income Tax Estimator 2022 Year 20242025 Tax Filing Status SingleMarried Filing JointlyMarried Filing SeparatelyHead of Household Gross Income Enter total income that is subject to income tax (minimum $1) including long-term capital gain and qualifying dividends Long-Term Capital Gains Enter amount of net long-term capital gains included in Gross Income, above Qualified Dividends Enter amount of qualified dividends included in Gross Income, above Adjustments to Income Enter total amount of above-the-line deductions (e.g., HSA deduction, IRA deduction) Elect to Itemize Deductions YesNo If filing status is married filing separately, both spouses should make the same election. Standard Deduction Adjustments You Age 65 or older Blind Your Spouse Age 65 or older Blind Check appropriate boxes even if entering itemized deductions Itemized Deductions Medical and Dental Expenses Allowable amount (above 7.5% of AGI floor) will be calculated State and Local Taxes Deduction Maximum: $10,000 ($5,000 if married filing separately) Home Mortgage Interest Deduction Investment Interest Deduction Charitable Gifts Deduction Casualty Loss Deduction Other Itemized Deductions Qualified Business Income Deduction Deduction is available whether or not you itemize deductions. Total Tax Credits Do not include federal income tax withholding or estimated tax payments Assumptions: This is a hypothetical example intended for illustration purposes only. This calculator considers only the general capital gain tax rates applicable to long-term capital gains, it does not consider any specialized capital gain tax rates. This calculator adjusts the regular standard deduction only for old age and blindness. The calculator limits the allowable amount of the charitable gift deduction to 60% of adjusted gross income (note that the amount actually allowed may be less, depending upon the gift recipient and the type of property donated). This calculator does not take into consideration that certain credits may be refundable if they exceed tax liability. For purposes of the alternative minimum tax, this calculator considers only adjustments for: the itemized deductions entered and the standard deduction. Any other adjustments and tax preferences are not taken into account. This calculator does not calculate any state taxes. This calculator reduces the qualified business income deduction to the extent that the deduction exceeds 20% of taxable income (as reduced by long-term capital gains and qualified dividends). For this purpose, taxable income is computed without regard to this deduction.