Tax Return Estimator
Full bracket math, federal + state + local. Every computed line details its statutory authority with direct links to primary source documents.
Ordinary Income
$
$
Capital Gains
$
$
Interest Income
$
$
$
Calculation Breakdown
Live calculatingIncome
Wages / ordinary income$200,000
Short-term capital gains$0
Long-term capital gains$500,000
Federal gross income$700,000
Less: standard deduction (MFJ)($31,500)
Ordinary taxable income (after deduction)$168,500
Preferential income (QD + LTCG): $500,000 computed below$500,000
Authority: IRS Rev. Proc. 2024-61, §3.01 (TY2025)
Federal ordinary income tax$26,898
10.0% on $23,850 ($0-$23,850)$2,385
12.0% on $73,100 ($23,850-$96,950)$8,772
22.0% on $71,550 ($96,950-$206,700)$15,741
Authority: IRS Rev. Proc. 2024-61, §3.01 (TY2025)
Federal long-term capital gains tax$78,423
Ordinary taxable income (stacking base)$168,500
15% on $431,550$64,733
20% on $68,450$13,690
Authority: IRS Rev. Proc. 2024-61, §3.03; IRC §1(h)
Net Investment Income Tax (3.8%)$17,100
MAGI: $700,000$700,000
Threshold (MFJ): $250,000($250,000)
NII (QD + gains + treasury): $500,000$500,000
NIIT base (lesser of NII or MAGI excess): $450,000$450,000
NIIT @ 3.8%$17,100
Authority: IRC §1411; IRS Form 8960 Instructions
California (CA)$49,795
California taxable income (after $11,412 deduction)$688,588
1.0% on $44,316 ($0-$44,316)$443
2.0% on $60,738 ($44,316-$105,054)$1,215
4.0% on $60,760 ($105,054-$165,814)$2,430
6.0% on $64,354 ($165,814-$230,168)$3,861
8.0% on $60,620 ($230,168-$290,788)$4,850
9.3% on $397,800 ($290,788-$1,485,906)$36,995
Total Estimated Tax
$172,215
Effective Tax Rate
24.60%
Total Income$700,000
StateCA
StatusJoint
Combined Marginal Tax Rates
Ordinary40.1%
LTCG33.1%
Qual. Div.33.1%
Disclaimer: Approximation only. Ignores itemized deductions, Alternative Minimum Tax (AMT), credits, phase-outs, and state-specific deductions beyond standard allowances. Every rate traces to a primary .gov source shown in the details above.