Federal income tax on $40,000
The calculator starts with $40,000 of wages, single filing status, and the standard deduction. Add gains, children, or tips to see how your federal income tax changes.
Enter your wages to see your federal income tax for 2026.
- Marginal rate
- —
- Effective rate
- —
- Taxable income
- —
- Deduction
- —
- Child tax credit
- —
- Refundable child credit
- —
Breakdown by bracket
| Rate | Income taxed | Tax |
|---|
Each line is rounded to the cent. Long-term gains are taxed at 0%, 15%, or 20% on top of your ordinary income.
How it’s calculated
- Formula
tax = bracket tax on taxable income + long-term gains tax − child tax credit- With your numbers
—
An estimate of federal income tax only
This covers federal income tax under the 2026 schedules. It leaves out Social Security and Medicare taxes, self-employment tax, state and local income taxes, the Additional Medicare Tax, the alternative minimum tax, the qualified business income deduction, and every credit except the child tax credit. It is not tax advice.2026 tax brackets: Single
Standard deduction: $16,100
| Taxable income over | Up to | Rate |
|---|
The rules this uses
Your taxable income is wages and other income, minus the standard or itemized deduction and the extra deductions for age 65 or older, qualified tips, and qualified overtime. Ordinary income is taxed at the bracket rates above. Long-term gains stack on top of it and fill the 0%, 15%, and 20% bands in turn.
The child tax credit is $2,200 per child under 17 and phases out from $200,000 of income for single filers ($400,000 jointly). Up to $1,700 per child can be refunded, based on earned income above $2,500. The extra deductions for age 65 or older, tips, and overtime apply from 2025 through 2028, and married filing separately does not get them.
Verified on October 8, 2026. Sources: IRS, Rev. Proc. 2025-32 (2026 inflation adjustments); IRS, One, Big, Beautiful Bill Act: tax deductions for working Americans and seniors; 26 U.S.C. 151(d)(5)(C), 224 and 225; 26 U.S.C. 24 (phase-out, refundable earned-income threshold); amounts from Rev. Proc. 2025-32 section 4.05.
How to use it
- Choose your filing status and enter your wages and any other taxable income.
- Add long-term capital gains, or leave the field empty if you have none.
- Keep the standard deduction, or switch to itemized deductions if they are larger, and check any age 65 or blindness boxes.
- Enter children under 17, qualified tips, or qualified overtime if they apply.
- Read your federal income tax, marginal and effective rates, and the tax owed in each bracket.
Frequently asked questions
How much federal income tax is owed on $40,000 in 2026?
$2,620 as a single filer with the standard deduction of $16,100. Taxable income is $23,900, and the effective rate is 6.55% of gross income.
What is the marginal rate on $40,000?
12%: the last dollar of ordinary taxable income is taxed at that rate. The lower brackets are taxed at 10% and 12%, as the breakdown shows.
Federal income tax on $40,000
As a single filer with $40,000 of wages and the standard deduction of $16,100, taxable income is $23,900. Federal income tax comes to $2,620, an effective rate of 6.55% of gross income.
Bracket breakdown
| Rate | Income taxed | Tax |
|---|---|---|
| 10% | $12,400 | $1,240 |
| 12% | $11,500 | $1,380 |
| Total | $2,620 |
The marginal rate is 12%. Each line is rounded to the cent. For other filing statuses and extra deductions, use the income tax calculator.
This is an estimate of federal income tax under the 2026 schedules. It leaves out Social Security and Medicare taxes, state and local taxes, and credits other than the child tax credit. It is not tax advice.
Updated on October 8, 2026