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Adds short-term gains, IRA contributions and conversions, the ACA premium tax credit, and rental income to the tax calculator.
Figures are for the 2026 tax year.
Filing details
Filing status
Income and gains
Added to ordinary income. Enter any foreign tax credit under other tax credits.
Retirement accounts
Fully deductible with no workplace plan. The 2026 limit is $7,500 across both IRAs ($8,600 at 50 and over).
Up to $7,500 after any traditional IRA contribution. The 2026 limit of $7,500 is shared across both IRAs.
Covered by a workplace retirement plan
Taxed as ordinary income this year.
ACA premium tax credit
Set from the benchmark silver plan for your state and household size. Change it if you know yours.
Your monthly payment and the full premium
Household income is above 400% of the poverty level for a household of 1, so no credit applies for 2026.
Rental activity (Schedule E)
Active participation
Real estate professional
Active participants can deduct up to $25,000 of rental losses against other income. The allowance phases out between $100,000 and $150,000 of MAGI. Real estate professionals who materially participate deduct the full loss.
Adjustments and credits
Up to $300 per eligible educator.
Up to $2,500. Phases out between $85,000 and $100,000 of MAGI.
Nonrefundable credits other than the child and dependent credits. Some, like the foreign tax credit, carry forward if they exceed your federal tax.