Calculate Your Income Tax · Exclusive

You can reduce your gross income by taking "above-the-line" deductions. These are available even if you don't itemize.

: Rental income, gambling winnings, and distributions from retirement accounts. 📉 Step 2: Determine Your Adjusted Gross Income (AGI) calculate your income tax

: Wages, salaries, tips, and bonuses from your job. You can reduce your gross income by taking

: Up to $300 for K-12 teachers purchasing classroom supplies. calculate your income tax

Start by adding up every dollar you earned throughout the year. This is your "raw" income before any reductions.

: Payments to a Traditional IRA or 401(k).