1040 Tax Calculator for 2009 Estimated Taxes

Your taxes are estimated at LINE_56_TOTAL_TAX.

**GRAPH**

This is AVERAGE_TAX_RATE of your total income of LINE_22_TOTAL_INCOME. Your total tax payments for the year were LINE_64_TOTAL_PAYMENTS. REFUND_OR_OVERPAYMENT_TEXT is estimated at REFUND_OR_OVERPAYMENT_AMT. Your income puts you in the BRACKET_TAX_RATE tax bracket.

REFUND_OR_OVERPAYMENT_TEXT REFUND_OR_OVERPAYMENT_AMT
Filing statusLINE_1_FILING_STATUS
Total exemptions claimed: LINE_6D_TOTAL_EXEMPTIONS_CLAIMED
Personal exemptionLINE_6A_PERSONAL_EXEMPTION
Spouse exemptionLINE_6B_SPOUSE_EXEMPTION
DependentsLINE_6C_DEPENDANTS
Wages, salaries, tips, etcLINE_7_WAGES_SALARIES_TIPS_ETC
Taxable interestLINE_8A_TAXABLE_INTEREST
Tax-exempt interestLINE_8B_TAXEXEMPT_INTEREST
Ordinary dividends (this includes any qualified dividends)LINE_9_ORDINARY_DIVIDENDS
Qualified dividends (included in ordinary dividends above)LINE_9_OTHER_DIVIDENDS
Taxable refunds or credits of state and local income taxesLINE_10_TAXABLE_REFUNDS_OR_CREDITS_OF_STATE_AND_LOCAL_INCOME_TAXES
Alimony receivedLINE_11_ALIMONY_RECEIVED
Business income or loss from Schedule CLINE_12_BUSINESS_INCOME_OR_LOSS
Short term capital gain or loss*LINE_13_SHORT_TERM_CAP_GAIN
Long term capital gain or loss*LINE_13_LONG_TERM_CAP_GAIN
Other gains or lossesLINE_14_OTHER_GAINS_OR_LOSSES
Taxable IRA distributionsLINE_15_TAXABLE_IRA_DISTRIBUTIONS
Taxable pensions and annuity distributionsLINE_16_TAXABLE_PENSIONS_AND_ANNUITY_DISTRIBUTIONS
Income from Schedule ELINE_17_INCOME_FROM_SCHEDULE_E
Farm income or lossLINE_18_FARM_INCOME_OR_LOSS
Unemployment compensationLINE_19_UNEMPLOYMENT_COMPENSATION
Taxable social security benefitsLINE_20_TAXABLE_SOCIAL_SECURITY_BENEFITS
Other incomeLINE_21_OTHER_INCOME
Total incomeLINE_22_TOTAL_INCOME
Educator expensesEDUCATOR_EXPENSES
Certain business expenses (see form 2106)CERTAIN_BUSINESS_EXPENSES
Health Savings Account (HSA) deductionHEALTH_SAVINGS_ACCOUNT
Moving expensesLINE_26_MOVING_EXPENSES
One-half of self-employment taxLINE_27_ONEHALF_OF_SELFEMPLOYMENT_TAX
Self-employed SEP, SIMPLE and qualified plansLINE_29_KEOP_AND_SELF_EMPLOYED_SEP_AND_SIMPLE_PLANS
Self-employed health insurance deductionLINE_28_SELFEMPLOYED_HEALTH_INSURANCE_DEDUCTION
Penalty on early withdrawal of savingsLINE_30_PENALTY_ON_EARLY_WITHDRAWAL_OF_SAVINGS
Alimony paidLINE_31_ALIMONY_PAID
IRA deductionLINE_23_IRA_DEDUCTION
Student loan interest deductionLINE_24_STUDENT_LOAN_INTEREST_DEDUCTION
Tuition and fees deduction. (Form 8917)TUITION_FEES_DEDUCTION
Domestic production activities deductionDOMESTIC_PRODUCTION_DEDUCTION
Total adjustmentsLINE_32_TOTAL_ADJUSTMENTS_23_THROUGH_31
Adjusted gross income (AGI)LINE_33_ADJUSTED_GROSS_INCOME
Total credits: LINE_35A_TOTAL_CREDITS
65 or older?LINE_35A_YOU_WERE_65_OR_OLDER
Blind?LINE_35A_BLIND
Spouse 65?LINE_35A_SPOUSE_WAS_65_OR_OLDER
Spouse blind?LINE_35A_BLIND_SPOUSE
Married filing separatelyLINE_35B_MARRIED_FILING_SEPARATELY
Itemized deductionsLINE_36_ITEMIZED_DEDUCTIONS
Can someone claim you as a dependent?LINE_36_CAN_SOMEONE_CLAIM_YOU_AS_A_DEPENDENT
Standard deductionLINE_36_STANDARD_DEDUCTION
Deduction to useLINE_36_DEDUCTION_TO_USE
Deduction for exemptionsLINE_38_DEDUCTION_FOR_EXEMPTIONS
Taxable incomeLINE_39_TAXABLE_INCOME
Tax*LINE_40_TAX
Alternative Minimum Tax (AMT)LINE_51_ALTERNATIVE_MINIMUM_TAX
Total with AMTLINE_42_TOTAL
Foreign tax creditLINE_46_FOREIGN_TAX_CREDIT
Child and dependent care creditLINE_41_CREDIT_FOR_CHILD_AND_DEPENDENT_CARE_EXPENSES
Credit for the elderly or disabledLINE_42_CREDIT_FOR_THE_ELDERLY_OR_DISABLED
Education creditsLINE_44_EDUCATION_CREDITS
Retirement savings contributions creditNEW_48_RETIREMENT_SAVINGS_CREDIT
Child tax creditLINE_43_CHILD_TAX_CREDIT
Based on LINE_6C_DEPENDANTS_QUALIFYING_FOR_CHILD_TAX_CREDIT qualifying dependents.
Make work pay tax creditMAKE_WORK_PAY_CREDIT
Child tax credit received previouslyLINE_RECVD_CHILD_CREDIT
Credits from Forms 8839 (Adoption), 8839 and 8859LINE_45_ADOPTION_CREDIT
Other credits including credit for prior year AMT (Form 8801)LINE_47_OTHER_CREDITS
Total creditsLINE_48_TOTAL_CREDITS
Total tax after creditsLINE_49_TOTAL_TAX_AFTER_CREDITS
Self-employment taxLINE_50_SELFEMPLOYMENT_TAX
Social security and Medicare on tips not reportedLINE_52_SOCIAL_SECURITY_AND_MEDICARE_ON_TIPS_NOT_REPORTED
Tax on IRAs and other retirement plansLINE_53_TAX_ON_IRAS_AND_OTHER_RETIREMENT_PLANS
Advance earned income credit paymentsLINE_54_ADVANCE_EARNED_INCOME_CREDIT_PAYMENTS
Household employment taxesLINE_55_HOUSEHOLD_EMPLOYMENT_TAXES
Total other taxesTOTAL_OTHER_TAXES
Total taxLINE_56_TOTAL_TAX
Federal income tax withheld on Forms W-2 and 1099LINE_57_FEDERAL_INCOME_TAX_WITHHELD
Estimated tax payments and amount applied on last years returnLINE_58_2000_ESTIMATED_TAX_PAYMENTS
Earned income credit 
Non-taxable combat payNONTAXABLE_COMBAT_PAY
Reduction for Scholarships, penal income, and retirement incomeEIC_INCOME_REDUCTION
Number of qualifying childrenLINE_6C_DEPENDANTS_QUALIFYING_FOR_EARNED_INCOME_CREDIT
Lived in the U.S?LIVED_IN_THE_US
Qualified child of another?QUALIFYING_CHILD_OF_ANOTHER
Age 25 to 65?VALID_AGE_RANGE
Calculated earned income creditLINE_59_EARNED_INCOME_CREDIT
Excess social security and RRTA tax withheldLINE_62_EXCESS_SOCIAL_SECURITY_AND_RRTA_TAX_WITHHELD
Amount paid with request for extensionLINE_61_AMOUNT_PAID_WITH_FORM_4868
Other payments and creditsLINE_63_OTHER_PAYMENTS
Total paymentsLINE_64_TOTAL_PAYMENTS

*Any amount you enter as a short-term capital gain is taxed as normal income. Any amount you enter as a long-term capital gain or dividend is taxed as follows:

  • This calculator assumes that all of your long-term capital gains and qualified dividends are taxed at either 0% or 15%.
  • The tax is 0% for the portion of your gain that would have been taxed at 15% or lower tax if it were a short-term gain.

  • The tax is 15% for any of your capital gain that would have been taxed at a rate higher than 15% if it were considered a short term gain.

  • This calculator assumes that none of your long-term capital gains come from collectibles, section 1202 gains or unrecaptured 1250 gains. These types of capital gains are taxed at 28%, 28% and 25% respectively (unless your ordinary income tax bracket is a lower rate).

For more information on capital gains tax rates and how they are applied, you may wish to read IRS Publication 17: Your Federal Income Taxes.



Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.