# How big will my tax refund be?

Estimates your 2026 federal tax refund or the amount you owe: the tax withheld and paid minus the Form 1040 tax after refundable credits.

- Page: https://www.acalculator.org/finance/tax-refund-calculator
- JSON spec: https://www.acalculator.org/finance/tax-refund-calculator.json
- Version: 838b7177decb

## Default answer

Example with the default inputs (Filing status Single, Wages $60,000.00, Federal tax withheld $6,000.00, Children under 17 0, Someone can claim me as a dependent No, Tax year 2,026): With $60,000.00 of wages and $6,000.00 withheld, filing Single, your refund, or the amount you owe if negative, is $977.00.

## Inputs

| Key | Label | Description |
| --- | --- | --- |
| status | Filing status | Federal filing status. |
| wages | Wages | Form W-2 box 1 wages, both spouses if joint. |
| withheld | Federal tax withheld | Federal tax withheld (W-2 box 2). |
| children | Children under 17 | Children under 17 with an SSN. |
| estimated | Estimated tax paid | Estimated tax paid for the year. |
| selfEmployment | Self-employment profit | Schedule C net profit. |
| interest | Taxable interest | Taxable interest (1099-INT). |
| dividends | Ordinary dividends | Form 1099-DIV box 1a. |
| qualifiedDividends | Qualified dividends | Form 1099-DIV box 1b. |
| shortTermGains | Short-term capital gains | Held a year or less; a loss is negative. |
| longTermGains | Long-term capital gains | Held over a year; a loss is negative. |
| otherIncome | Other income | Pensions, unemployment, taxable Social Security. |
| adjustments | Adjustments to income | IRA, HSA, student loan interest, and the like. |
| itemized | Itemized deductions | Schedule A total, used if above the standard deduction. |
| otherDependents | Other dependents | Dependents who are not children under 17. |
| over65 | People 65 or older | People on the return aged 65 or older. |
| blind | People who are blind | People on the return who are blind. |
| claimedAsDependent | Someone can claim me as a dependent | Limits the standard deduction. |
| year | Tax year | Later years use the latest rates. |

## Outputs

| Key | Label | Description |
| --- | --- | --- |
| totalTax | Federal income tax | Form 1040 line 24. |
| balance | Refund or amount owed | Payments minus tax after credits; negative: you owe. |
| effectiveRate | Effective tax rate | Tax after credits over total income. |
| marginalRate | Marginal tax rate | Bracket rate on the next dollar. |
| agi | Adjusted gross income | Form 1040 line 11. |
| taxableIncome | Taxable income | Form 1040 line 15. |
| totalIncome | Total income | Form 1040 line 9. |
| deduction | Deduction taken | Standard or itemized, whichever is larger. |
| deductionType | Deduction type | Standard or itemized. |
| scheduleOneA | Senior deduction | $6,000 per person 65 or older (Schedule 1-A). |
| qbiDeduction | QBI deduction | Form 8995. |
| incomeTax | Tax on taxable income | Form 1040 line 16. |
| childTaxCredit | Child and other dependent credit | Form 1040 line 19. |
| selfEmploymentTax | Self-employment tax | Schedule SE tax. |
| otherTaxes | Additional Medicare and NIIT | Forms 8959 and 8960. |
| earnedIncomeCredit | Earned income credit | Refundable EIC. |
| netTax | Tax after refundable credits | Total tax less refundable credits. |
| at10 | Taxed at 10% | In the 10% bracket. |
| at12 | Taxed at 12% | In the 12% bracket. |
| at22 | Taxed at 22% | In the 22% bracket. |
| at24 | Taxed at 24% | In the 24% bracket. |
| at32 | Taxed at 32% | In the 32% bracket. |
| at35 | Taxed at 35% | In the 35% bracket. |
| at37 | Taxed at 37% | In the 37% bracket. |
| atCapitalGainsRates | At capital gains rates | Taxed at 0%, 15%, or 20%. |
| ratesYear | Rates of tax year | Year of the rates used. |
| notice | Note | Rates year or a limit left out. |

## Method

Form 1040 (2026): AGI = income − adjustments; taxable income = AGI − deduction − Schedule 1-A − QBI; tax by the Tax Table or rate schedule and capital gains rates − child tax credit + other taxes = total tax; refund = payments − (total tax − refundable credits).

## Assumptions

- An estimate for tax year 2026, not tax advice.
- Not modelled: AMT, the premium tax credit, education and other credits, QBI above the Form 8995 threshold, EIC for a separated spouse, the tips, overtime, and car loan deductions, taxable Social Security (type it as other income), 25% and 28% gains, and state tax.
- Everyone 65 or older has an SSN; children under 17 also qualify for the EIC; with no child, someone is 25 to 64.
- Self-employment profit belongs to the wage earner; QBI is profit less half of self-employment tax.

## Worked examples

1. status = single, wages = $45,000.00, withheld = $4,000.00 gives taxableIncome = $28,900.00, totalTax = $3,223.00, balance = $777.00.
2. status = hoh, wages = $30,000.00, children = 2, withheld = $1,200.00 gives incomeTax = $588.00, childTaxCredit = $588.00, totalTax = $0.00, earnedIncomeCredit = $6,024.00, balance = $10,624.00. Source: Schedule 8812 Part II-A ($1,700 a child) and the EIC Table method (Rev. Proc. 2025-32 section 4.06).
3. status = mfj, wages = $100,000.00, selfEmployment = $20,000.00, withheld = $8,000.00, estimated = $3,000.00 gives selfEmploymentTax = $2,825.91, agi = $118,587.05, qbiDeduction = $3,717.41, taxableIncome = $82,669.64, totalTax = $12,250.91, balance = -$1,250.91. Source: Schedule SE, Form 8995, and the Tax Table row $82,650 to $82,700.

## FAQ

### How is a tax refund calculated?

Your refund is what you paid during the year minus the tax you owe. Payments are the federal tax withheld from your pay plus any estimated tax payments. The tax you owe is your Form 1040 tax after credits. Refundable credits, such as the earned income credit and the additional child tax credit, can make the tax below zero, so you can get back more than was withheld.

### Where do I find how much federal tax was withheld?

On Form W-2 box 2 for each job, and on Forms 1099 box 4 for other income such as unemployment or retirement payments. During the year, your last pay stub shows the federal income tax withheld so far; to estimate the whole year, add what the rest of your paychecks will withhold.

### Why do I owe money this year?

The usual reasons are too little withholding (for example two jobs, or a Form W-4 that claims more credits than you get), self-employment or investment income with no tax withheld, or a change in credits, such as a child turning 17. The calculator shows the tax, the credits, and the payments, so you can see which one moved.

### What is the earned income credit, and why does it raise my refund?

The earned income credit (EIC) is a refundable credit for workers with low to moderate earnings. For 2026 it is up to $664 with no children and up to $8,231 with three or more. Because it is refundable, the part larger than your tax is paid to you as part of the refund.

### When will I get my refund?

The IRS says most refunds for returns filed electronically with direct deposit arrive within 21 days. By law the IRS holds refunds that include the earned income credit or the additional child tax credit until mid-February. This calculator estimates the amount, not the date.

### Does the refund include state tax?

No. This is the federal refund only. State income tax is on a separate return; see the state income tax calculators, one per state (for example the California income tax calculator).

### What does this calculator leave out?

The alternative minimum tax, the premium tax credit, education and other credits, the QBI deduction above the Form 8995 threshold, and the 25% and 28% capital gains rates. It is an estimate, not tax advice.

## Sources

- IRS, Rev. Proc. 2025-32 (Internal Revenue Bulletin 2025-45), section 4: 2026 tax rate tables, standard deduction, capital gains breakpoints, child tax credit, earned income credit. https://www.irs.gov/irb/2025-45_IRB
- IRS, 2025 Instructions for Form 1040: Tax Table, Tax Computation Worksheet, Qualified Dividends and Capital Gain Tax Worksheet, EIC Table. https://www.irs.gov/instructions/i1040gi
- IRS, Schedule 8812 (Form 1040), Credits for Qualifying Children and Other Dependents. https://www.irs.gov/pub/irs-pdf/f1040s8.pdf
- IRS, Schedule SE (Form 1040), Self-Employment Tax. https://www.irs.gov/pub/irs-pdf/f1040sse.pdf
- IRS, draft Schedule 1-A (Form 1040) 2026, Additional Deductions. https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf
- IRS, Form 8959 (Additional Medicare Tax) and Form 8960 (Net Investment Income Tax) instructions. https://www.irs.gov/forms-pubs/about-form-8960