Taxable Income
The portion of your income subject to tax after deductions and exemptions are subtracted.
What does taxable income mean?
You start with gross income, subtract adjustments and the greater of your standard or itemized deductions, and the result is taxable income — the figure run through the tax brackets.
Put it to use
All glossary terms 1040 Tax Calculator (Tax Year 2017) Use this 1040 tax calculator to help estimate your tax bill using the 2017 tax year's rates and rules. Simple Federal Tax Calculator (Tax Year 2017) Enter your filing status, income, deductions and credits and we will estimate your total tax for 2017. This simple calculator will help you determine your tax refund.