Marginal tax calculator

Use this calculator to help estimate your federal marginal tax rate, average income tax rate, and tax bracket for the tax year shown below. This is a very simplified calculator that will help with your federal marginal tax rate estimation for unexpected income, retirement planning, or investment income.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

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Marginal Tax Rate Calculator for 2024

*indicates required.

Marginal tax inputs:

Filing status:*This entry is required.

Are you someone's dependent?:*This entry is required.

Wages, salaries, tips, etc:*This entry is required.Enter an amount between $0 and $10,000,000

Dependents qualifying for child tax credit:*This entry is required.Enter an amount between 0 and 99

Standard or itemized deduction:

$29,200.00

Your Federal taxes are estimated at $0.00 Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Your Federal taxes are estimated at $0.00.
This is 0% of your total income of $0.00. Your income puts you in the 0% tax bracket. Adding $1,000.00 to your income would result in a 0% marginal tax rate on the additional income.

Definitions

Federal Income Tax Rates

Use the ‘Filing Status and Federal Income Tax Rates on Taxable Income’ table to assist you in estimating your Federal tax rate.

Filing Status and Federal Income Tax Rates on Taxable Income for 2024^*
Tax Rate	Married Filing Jointly or Qualified Surviving Spouse	Single	Head of Household	Married Filing Separately
10%	$0 - $23,200	$0 - $11,600	$0 - $16,550	$0 - $11,600
12%	$23,200 - $94,300	$11,600 - $47,150	$16,550 - $63,100	$11,600 - $47,150
22%	$94,300 - $201,050	$47,150 - $100,525	$63,100 - $100,500	$47,150 - $100,525
24%	$201,050 - $383,900	$100,525 - $191,950	$100,500 - $191,950	$100,525 - $191,950
32%	$383,900 - $487,450	$191,950 - $243,725	$191,950 - $243,700	$191,950 - $243,725
35%	$487,450 - $731,200	$243,725 - $609,350	$243,700 - $609,350	$243,725 - $365,600
37%	Over $731,200	Over $609,350	Over $609,350	Over $365,600
^*Caution: Do not use these tax rate schedules to figure 2023 taxes. Use only to figure 2024 estimates. Source: Rev. Proc. 2023-34

Income Tax Rates
Average tax rate	This is your Federal tax divided by your total income. The average tax rate is almost always lower, sometimes by a wide margin, than your income tax bracket or marginal tax rate.
Income tax bracket	This is the highest Federal income tax bracket used in calculating your total Federal tax. This is calculated by looking up the highest Federal income tax bracket that includes your taxable income.
Marginal tax rate	This is the percentage paid in Federal taxes on additional income. To determine your marginal tax rate, the tool recalculates your total Federal income tax using your current income plus an additional income amount. The additional income amount is $1,000 for incomes under $100,000 and $10,000 for incomes over $100,000. We then divide the difference between your original Federal tax and the recalculated Federal tax by the amount of additional income. Your marginal tax rate captures the effect of additional income taxed in higher income brackets and the phase-out of deductions and credits.

Wages, salaries, tips, etc.

This is your total taxable income for the year after deductions for retirement contributions such as 401(k)s, IRAs, etc. This calculator is designed to work primarily with earned income taxed at ordinary income tax rates. It is not designed to calculate taxes from capital gains, business income or passive income sources.

Filing status

Choose your filing status. The ‘Filing Status’ table summarizes the five possible filing status choices. Your filing status determines the income levels for your Federal tax bracket. It is also important for calculating your standard deduction. Your marital status as of the last day of the year determines your filing status.

Filing Status
Married Filing Jointly	If you are married, you are able to file a joint return with your spouse. If your spouse died during the tax year and you did not remarry, you are still able to file a joint return for that year. You may also choose to file separately under the status "Married Filing Separately".
Qualified Surviving Spouse	Generally, you qualify for this status if your spouse died during the previous tax year (not the current tax year) and you and your spouse filed a joint tax return in the year immediately prior to their death. You are also required to have at least one dependent child or stepchild for whom you are the primary provider.
Single	Use this filing status if you don't qualify for any other filing status. Generally, If you are divorced, legally separated or unmarried as of the last day of the year (and you are not using another filing status) you should use this status.
Head of Household	This is the status for unmarried individuals (or individuals considered unmarried) that pay for more than half of the cost to keep up a home for qualifying individuals who live with the taxpayer for more than one-half of the year. (The taxpayer's dependent parent does not have to live with the taxpayer but can still qualify provided you pay over half of the cost of keeping up the parent's home.). This home needs to be the main home for the income tax filer and at least one qualifying relative. You can also choose this status if you are married, but didn't live with your spouse at anytime during the last six months of the year. You also need to provide more than half of the cost to keep up your home and have at least one dependent child living with you.
Married Filing Separately	If you are married, you have the choice to file separate returns. The filing status for this option is "Married Filing Separately".

Are you someone's dependent?

Choose 'no' if no one can claim you or your spouse as a dependent. Choose 'yes' if someone can claim you as a dependent. Choose "Both you and your spouse" if you both are dependents. (You are a dependent if someone supports you and can claim a dependency exemption for you.)

Dependents qualifying for child tax credit

Enter the number of dependent children that qualify for the child tax credit. To qualify, a child must be under age 17 at the end of the year. They must be either your child, one of your siblings or your foster child or a child of any of them (for example your grandchild). In addition, they must have lived with you for more than half of the year, not provide more than half of their own support and must be claimed as a dependent on your tax return. In 2024, for each qualifying child you can receive up to a $2,000 tax credit.

Income Thresholds for Child Tax Credit Phaseout of $2,000 for children and $500 for other dependents
Filing Status	Maximum AGI for Full Credit	AGI No Credit
Married Filing Jointly	$400,000	$50 reduction for every $1,000 over threshold
Qualified Surviving Spouse	$400,000	$50 reduction for every $1,000 over threshold
Single	$200,000	$50 reduction for every $1,000 over threshold
Heads of Household	$200,000	$50 reduction for every $1,000 over threshold
Married Filing Separately	$200,000	$50 reduction for every $1,000 over threshold

Standard deduction

Your standard deduction is used to reduce your taxable income if you do not use Schedule A to itemize your deductions, or if your Schedule A itemized deduction is less than your standard deduction. Your standard deduction is based on your filing status.

Standard Deduction for 2024 Federal Income Tax
Filing Status	Standard Deduction
Married Filing Joint	$29,200
Qualified Surviving Spouse	$29,200
Single	$14,600
Heads of Household	$21,900
Married Filing Separately	$14,600

Your standard deduction is increased if you or your spouse are blind or over age 65.

Medical and dental expenses

Enter your qualified medical and dental expenses for the year. This can include your health insurance premiums if you paid for them yourself (not through an employer sponsored plan) and you have not deducted them elsewhere. Your actual deduction is only for the amount that exceeds 7.5% of your Adjusted Gross Income (AGI). Enter your total expenses and the tool will calculate the actual deduction based on your AGI.

Taxes paid (generally state and local)

Enter the total of your 1) state and local property taxes and 2) state and local income taxes. If your state does not have an income tax (or you have paid more sales tax than income tax during the year) you can choose to include state local sales taxes instead of state and local income taxes. You are limited to a maximum $10,000 deduction for taxes paid.

Interest paid

Taxpayers can deduct the interest paid on qualified residences for up to $750,000 in mortgage debt (the limit is $375,000 if married and filing separately). For mortgages that were originated before December 15, 2017, the limit is $1 million in total mortgage debt. This includes refinancing these mortgages as long as the amount owed is not increased as part of the refinancing.

Any interest paid on first, second or home equity mortgages over the limit is not tax-deductible. Only home equity loans that are used to buy, build or substantially improve the home that secures the loan are included. All other home equity loans do not have an interest deduction. Mortgage interest is reported on form 1098.

You can also include the amount you paid for "points" (which reduces your mortgage interest rate). Mortgage insurance premiums paid are no longer deductible.

Gifts to charity

Enter your total gifts of cash and non-cash to qualified charitable organizations.

Itemized deduction

Your total itemized deductions from Schedule A.

Standard or itemized deduction

This is the higher of your Standard Deduction or your Itemized Deduction.