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Investments and rental property
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Maximize your tax deductions
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Small business owner or sole proprietor
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Simple tax returns
Income Tax Calculator 2020
Estimate your tax refund
Quickly estimate your 2020 tax refund amount with TaxCaster, the convenient tax return calculator that’s always up-to-date on the latest tax laws. This interactive, free tax calculator provides accurate insight into how much you may get back this year or what you may owe before you file.
DOWNLOAD THE APP
Estimate your refund anytime,
on the go
Simply download the TaxCaster Tax Calculator App to your
Android or
iPhone and access it anytime, anywhere.
The
information you enter is automatically saved so if you
have any changes, you can easily make them in seconds
to see how they
affect your federal tax refund.
How are tax refunds calculated?
Tax refunds are calculated by subtracting the amount of federal income taxes withheld from your total
income taxes due for the year. If the amount withheld from your paychecks for taxes exceeds the amount you owe,
then you will receive a refund. There are several factors that can impact how much income tax you pay
and how much you get back as a refund. To better understand what influences adjustments
in your tax outcome, check out the articles below:
TAX PLANNING
8 Common Life Events That
Affect Your Taxes
You probably noticed your tax refund changing based on the life events you selected from the tax calculator. Different life events from getting married, going back to school, or growing your family can increase or decrease your taxes.
Read more
TAX REFUND
12 Smart Things to Do With
Your Tax Refund
Anticipating a tax refund after using the tax refund estimator?
Set yourself up for the future by
making smart decisions
with your money.
Read more
TAXABLE INCOME
What Is Adjusted Gross Income (AGI)?
When getting ready to file your taxes, it’s a good thing to pay attention to your adjusted gross income (AGI). It can directly impact the how eligible you are for certain deductions and credits, which could reduce the amount of taxable income you report.
Read more
TAX BRACKETS
What Is My Tax Bracket?
Different tax rates apply to different portions of your total
income – minus your adjustments
and deductions. Under the
federal income tax system, “tax bracket” refers to the highest
tax rate
charged on your income.
Read more
WITHHOLDING ALLOWANCES
What Is a W-4 Form?
The W-4 is based on the idea of allowances. It lets your
employer know just how much money
to withhold from each paycheck for federal taxes and can help you from having
a big
balance due at tax time.
Read more Visit our W-4 Calculator
EXEMPTIONS
What Are Tax Exemptions?
Similar to deductions, tax exemptions can reduce your tax
bill. Most people are entitled to some type of exemption
depending on your situation. Beginning with the 2018
tax year, personal and dependent exemptions are no
longer used on your federal tax return.
Read more
FILING STATUS
How to Change Your Tax Filing Status
The first step in preparing your federal tax return is determining your filing status. Generally, you will have to select between single, head of household, married filing jointly and separately, or as a qualified widower. Your filing status determines your standard deduction, tax rates, and brackets.
Read more
TAX DEDUCTIONS AND CREDITS
What Are Tax Credits?
Tax credits cover a wide range of expenses
and situation, helping to reduce the amount of income tax you owe to the federal and state governments. In most cases, tax credits cover expenses you paid thought the year and come with requirements you must satisfy before you can claim them.
Read more
Get more with these free tax
calculators and money-finding tools
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Stimulus Check Calculator
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W-4 Withholding Calculator
Know how much to withhold from your
paycheck to get
a bigger refund
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Self-Employed
Expense EstimatorEstimate your self-employment tax and
eliminate
any surprises
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Dependents Credit &
Deduction FinderKnow what dependents credits and
deductions
you can claim
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ItsDeductible™
See how much
your charitable donations can get
the most of
what you’re giving
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Education Credit &
Deduction FinderLearn what education credits and deductions you qualify for and claim them on your
tax return
Get started
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TURBOTAX GUARANTEES
- TurboTax Free Guarantee: $0 Federal + $0 State + $0 To File offer is available for simple tax returns with TurboTax Free Edition. A simple tax return is Form 1040 only (without any additional schedules) OR Form 1040 + Unemployment Income. Situations covered include:
- W-2 income
- Limited interest and dividend income reported on a 1099-INT or 1099-DIV
- Claiming the standard deduction
- Earned Income Tax Credit (EIC)
- Child tax credits
- Unemployment Income reported on a 1099-G
- 100% Accurate Calculations Guarantee: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest.
- Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Online Free Edition customers are entitled to payment of $30.
- 100% Accurate Expert Approved Guarantee: If you pay an IRS or state penalty (or interest) because of an error that a tax expert or CPA made while providing topic-specific tax advice, a section review, or acting as a signed preparer for your return, we'll pay you the penalty and interest.
- Audit Support Guarantee: If you received an audit letter based on your 2020 TurboTax return, we will provide one-on-one support with a tax professional as requested through our Audit Support Center for returns filed with TurboTax for the current tax year (2020) and the past two tax years (2019, 2018). If we are not able to connect you to one of our tax professionals, we will refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Free Edition customers are entitled to payment of $30. We will not represent you or provide legal advice. Excludes TurboTax Business.
- Satisfaction Guaranteed:
- If you use TurboTax Online or Mobile:
Satisfaction Guaranteed — or you don't pay. You may use TurboTax Online without charge up to the point you decide to print or electronically file your tax return. Printing or electronically filing your return reflects your satisfaction with TurboTax Online, at which time you will be required to pay or register for the product. - If you bought TurboTax Live from a retailer:
Try TurboTax Live. If you're not satisfied with your purchase and have not filed or printed your return, return it to Intuit within 60 days of purchase with your dated receipt for a full refund (excluding shipping & handling). - If you bought or downloaded TurboTax software from a retailer:
Try TurboTax software. If you're not satisfied, return it to Intuit within 60 days of purchase with your dated receipt for a full refund. - If you bought or downloaded TurboTax software directly from us:
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- If you use TurboTax Online or Mobile:
TURBOTAX ONLINE/MOBILE
- Try for Free/Pay When You File: TurboTax online and mobile pricing is based on your tax situation and varies by product. TurboTax Free Edition ($0 Federal + $0 State + $0 To File) is available for simple tax returns only; offer may change or end at any time without notice. Actual prices are determined at the time of print or e-file and are subject to change without notice. Special discount offers may not be valid for mobile in-app purchases.
- TurboTax Live Basic Offer: Offer only available with TurboTax Live Basic and for simple tax returns only. Must file by May 3, 2021 to be eligible for the offer. Includes state(s) and one (1) federal tax filing. Intuit reserves the right to modify or terminate this TurboTax Live Basic Offer at any time for any reason in its sole and absolute discretion. If you add services, your service fees will be adjusted accordingly. If filed after May 3, 2021, you will be charged the then-current list price for TurboTax Live Basic and state tax filing is an additional fee. See current prices here.
- Pays for itself (TurboTax Self-Employed): Estimates based on deductible business expenses calculated at the self-employment tax income rate (15.3%) for tax year 2020. Actual results will vary based on your tax situation.
- Anytime, anywhere: Internet access required; standard data rates apply to download and use mobile app.
- Fastest refund possible: Fastest tax refund with e-file and direct deposit; tax refund time frames will vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.
- Pay for TurboTax out of your federal refund: A $40 Refund Processing Service fee applies to this payment method. Prices are subject to change without notice.
- TurboTax Help and Support: Access to a TurboTax specialist is included with TurboTax Deluxe, Premier, Self-Employed, TurboTax Live, and TurboTax Live Full Service; not included with Free Edition (but is available as an upgrade). TurboTax specialists are available to provide general customer help and support using the TurboTax product. SmartLook on-screen help is available on a PC, laptop or the TurboTax mobile app. Service, area of expertise, experience levels, wait times, hours of operation and availability vary, and are subject to restriction and change without notice.
- Tax Advice, Expert Review and TurboTax Live: Access to tax advice and Expert Review (the ability to have a Tax Expert review and/or sign your tax return) is included with TurboTax Live or as an upgrade from another version, and available through December 31, 2021. These services are provided only by tax experts or CPAs. Some tax topics or situations may not be included as part of this service, which shall be determined in the tax expert’s sole discretion. For TurboTax Live , if your return requires a significant level of tax advice or actual preparation, the tax expert may be required to sign as the preparer at which point they will assume primary responsibility for the preparation of your return. For the Full Service product, the tax expert will sign your return as preparer. On-screen help is available on a desktop, laptop or the TurboTax mobile app. Unlimited access to tax experts or CPAs refers to an unlimited quantity of contacts available to each customer, but does not refer to hours of operation or service coverage. Service, area of expertise, experience levels, wait times, hours of operation and availability vary, and are subject to restriction and change without notice.
- TurboTax Live Full Service – Qualification for Offer: Depending on your tax situation, you may be asked to answer additional questions to determine your qualification for the Full Service offer. Certain tax situations do not qualify for the Full Service offering. These situations may include but are not limited to multiple sources of business income, large amounts of cryptocurrency transactions, taxable foreign assets and/or significant foreign investment income. Offer details subject to change at any time without notice. Intuit, in its sole discretion and at any time, may determine that certain tax topics, forms and/or situations are not included as part of TurboTax Live Full Service. Intuit reserves the right to refuse to prepare a tax return for any reason in its sole discretion. See Terms of Service for details.
- Smart Insights: Included with TurboTax Deluxe, Premier, Self-Employed, TurboTax Live, TurboTax Live Full Service, or with PLUS benefits and is available through 11/1/2022. Terms and conditions may vary and are subject to change without notice.
- My Docs features: Included with TurboTax Deluxe, Premier, Self-Employed, TurboTax Live, TurboTax Live Full Service, or with PLUS benefits and is available through 12/31/2022. Terms and conditions may vary and are subject to change without notice.
- Tax Return Access: Included with all TurboTax Deluxe, Premier, Self-Employed, TurboTax Live, TurboTax Live Full Service, or prior year PLUS benefits customers and access to up to the prior seven years of tax returns we have on file for you is available through 12/31/2022. Terms and conditions may vary and are subject to change without notice.
- Easy Online Amend: Included with TurboTax Deluxe, Premier, Self-Employed, TurboTax Live, TurboTax Live Full Service, or with PLUS benefits. Make changes to your 2020 tax return online for up to 3 years after it has been filed and accepted by the IRS through 10/31/2023. Terms and conditions may vary and are subject to change without notice. For TurboTax Live Full Service, your tax expert will amend your 2020 tax return for you through 11/30/2021. After 11/30/2021 TurboTax Live Full Service customers will be able to amend their 2020 tax return themselves using the Easy Online Amend process described above.
- #1 best-selling tax software: Based on aggregated sales data for all tax year 2019 TurboTax products.
- Most Popular: TurboTax Deluxe is our most popular product among TurboTax Online users with more complex tax situations.
- CompleteCheck: Covered under the TurboTax accurate calculations and maximum refund guarantees.
- 1099-NEC Snap and Autofill: Available in TurboTax Self-Employed and TurboTax Live Self-Employed starting 1/25/2021. Available in mobile app only. Feature available within Schedule C tax form for TurboTax filers with 1099-NEC income.
- Year-Round Tax Estimator: Available in TurboTax Self-Employed and TurboTax Live Self-Employed starting by end of February. This product feature is only available after you finish and file in a self-employed product.
TURBOTAX CD/DOWNLOAD
- Installation requirements: Product activation required via Internet. Download option requires free online Intuit account. You must accept the TurboTax License Agreement to use this product. Not for use by paid preparers.
- TurboTax CD/Download products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees apply for e-filing state returns ($25). E-file fees do not apply to New York state returns. Prices subject to change without notice.
- Fastest refund possible: Fastest tax refund with e-file and direct deposit; tax refund time frames will vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.
- Pay for additional TurboTax services out of your federal refund: A $40 Refund Processing Service fee applies to this payment method. Prices are subject to change without notice. This benefit is available with TurboTax Federal products except TurboTax Business.
- About our TurboTax Product Experts: Customer service and product support vary by time of year.
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