2026 Tax Deduction Calculator Tax Year 2026
Estimate your 2026 tax deductions and tax savings with our comprehensive calculator. Includes standard deduction, itemized deductions, retirement contributions, HSA, child tax credit, and more. Based on official IRS 2026 inflation adjustments from Revenue Procedure 2025-32.
2026 Tax Deduction Overview
For tax year 2026, the IRS has announced significant inflation adjustments under the One, Big, Beautiful Bill (OBBB). The standard deduction has increased, and several contribution limits have been raised.
2026 Standard Deduction Amounts
The standard deduction for 2026 has been increased as follows:
- Single / Married Filing Separately: $16,100 (up from $15,750 in 2025)
- Married Filing Jointly: $32,200 (up from $31,500 in 2025)
- Head of Household: $24,150 (up from $23,625 in 2025)
- Additional (age 65+ or blind): $2,050 (per eligible individual)
2026 Retirement Contribution Limits
- 401(k), 403(b), 457 Plans: $24,500 (up from $23,500 in 2025)
- IRA (Traditional & Roth): $7,500 (up from $7,000 in 2025)
- IRA Catch-up (50+): $1,100 (up from $1,000 in 2025)
- 401(k) Catch-up (50+): $8,000 (up from $7,500 in 2025)
- 401(k) Super Catch-up (60-63): $11,250
2026 Health Savings Account (HSA) Limits
- Self-only coverage: $4,400 (up from $4,300 in 2025)
- Family coverage: $8,750 (up from $8,550 in 2025)
- Catch-up (55+): $1,000
2026 Child Tax Credit
The Child Tax Credit for 2026 is $2,200 per qualifying child under 17, with up to $1,700 refundable (Additional Child Tax Credit).
How the Calculator Works
- Standard Deduction: Automatically applied based on your filing status and age.
- Itemized Deductions: Sum of mortgage interest, SALT, charitable contributions, medical expenses, and other itemized deductions.
- Retirement & HSA Contributions: Sum of 401(k), IRA, and HSA contributions (deductible from income).
- Tax Credits: Child Tax Credit ($2,200 per child) plus any other credits.
- Tax Savings: Total deductions multiplied by your estimated tax rate, plus credits.
Important Disclaimer
This calculator provides estimates for educational and planning purposes. It does not constitute official tax advice. Actual tax liability may vary based on your specific circumstances. Always consult a qualified tax professional for accurate tax guidance.
❓ Tax Deduction Calculator FAQ
What is the standard deduction for 2026?
The 2026 standard deduction is $16,100 for single filers, $32,200 for married filing jointly, and $24,150 for head of household.
What is the 2026 401(k) contribution limit?
The 2026 401(k) contribution limit is $24,500, with an $8,000 catch-up for those 50 and older.
What is the 2026 IRA contribution limit?
The 2026 IRA contribution limit is $7,500, with a $1,100 catch-up for those 50 and older.
What is the 2026 HSA contribution limit?
The 2026 HSA contribution limit is $4,400 for self-only coverage and $8,750 for family coverage.
What is the Child Tax Credit for 2026?
The Child Tax Credit for 2026 is $2,200 per qualifying child under 17.
What is the SALT deduction limit for 2026?
The SALT deduction (state and local taxes) is limited to $10,000 ($5,000 for married filing separately) for 2026.
What is the difference between standard and itemized deductions?
Standard deduction is a fixed amount based on filing status. Itemized deductions include specific expenses like mortgage interest, state taxes, and charitable contributions. You choose whichever gives you the larger benefit.
How do retirement contributions reduce my taxes?
Contributions to traditional 401(k) and traditional IRA plans are made with pre-tax dollars, reducing your taxable income for the year. This calculator estimates the tax savings from these contributions.
Is this calculator free?
Yes, this calculator is completely free to use. No registration or personal data storage is required. All calculations are performed in your browser.