Input Field Reference

Below is a comprehensive description of each field available for input in a Tax Projection. Descriptions include what the field does and where you can typically find the value if pulling from a tax return.

Standard

W-2/Standard Income

Your normal job W2 income or similar sources. 1040 Lines 1a through 1h. This would also be the amount on your W2 in Box 1.

IRA/401k Contributions

Contributions made to a traditional IRA, 401k, or other tax deferred plan provided by your employer. Do not include solo 401k or any plan that comes from your own small business.

• NOTE: You should only include 401(k) contributions if they are not removed from your W2 wages above. e.g. for a $100k salary and $10k in 401k contributions, you can enter $90k in “W2 Income” OR you can enter $100k in “W2 Income” and $10k in this field. Your W2 will automatically remove this for you if you are copying that value.
• NOTE: You can also include any other adjustments to income from Schedule 1 that this software does not support (e.g. Educator Expenses).

Pensions/Annuities

Any income from a pension or annuity that would be reported on Form 1040, Box 5b. Only include the taxable amount.

HSA Contributions

Any contributions made to an HSA plan while you are under an eligible HSA Insurance.

Eligible Children

A count of children under age 17 at the end of the year who are eligible for the Child Tax Credit. See Schedule 8812.

Other Dependents

A count of other dependents who are not in the above count who are eligible for the Other Dependent Tax Credit. See Schedule 8812.

Social Security Benefits

Reported on SSA-1099 line 5 or 1040 line 6. This should be the full value reported, the tool will calculate how much is taxable.

Over 65

When checked, this will apply the additional bonus standard deduction value for taxpayers who are over 65 years old. For Married couples, you can choose if One or Both of you is over 65.

Analyze IRMAA

When checked, this will request a calculation of your Income Related Monthly Adjustment Amount. These apply to filers who are on Medicare and are applied two years after. Typically filers 63 and above should use this option.

Investments

Interest

All bank interest you receive on 1099-INT or 1040 Line 2b. Only include the taxable portion.

Qualified Dividends

Typically from a brokerage account, this is reported on 1099-DIV each year or from 1040 line 3a. This value must be less than or equal to the Ordinary Dividends amount.

Ordinary Dividends

Typically from a brokerage account, this is reported on 1099-DIV each year or from 1040 line 3b. Include the full value here (do not subtract qualified dividends).

Qualified REIT Dividends

Typically from a brokerage account, this is reported on 1099-DIV each year and can be used toward QBI.

Roth Conversions

Amounts converted from a traditional IRA to a Roth will be taxed. This often ends up in form 1040 Line 4b (but may only be part of that reporting).

Qualified Withdrawals

Amounts withdrawn from a qualified account (IRA, 401k, some annuities, etc.). Typically on 1040 Line 4b or 5b. Only include the taxable portion.

Long Term Capital Gains

The gain on a long term capital gain withdrawal. From Schedule D, Line 15 when positive. When negative, use Capital Losses.

Short Term Capital Gains

Capital gains less than a year. From Schedule D, Line 7 when positive. When negative, use Capital Losses.

Capital Losses

Can only occur with no positive capital gains. Enter this as a negative value. Form 1040 line 7. This includes both Short Term and Long Term capital gains.

Business

Sole Prop - Net Business Income

For a Sole Proprietorship, all business income minus expenses. This should typically match form 1040 Line 8 or Schedule C Line 31.

Business Retirement Contributions

Any contributions from your business toward a deferred plan (typically SIMPLE, SEP, or Solo 401k). This reduces your small business income. This should only be used if the contribution amounts are not already removed from your business income.

K1 - Subject to SE Tax

Typically for a partnership, income reported to you on form K-1 that is subject to Self Employment taxes.

W2 SS Wages

The total of all Social Security Wages on all your W2 Forms (Boxes 3 and 7). This information is not available on your 1040. If you have W2 income, this information is required to accurately calculate your Self Employment taxes with regard to the Social Security maximum taxable income. If you have no W2 income, this should be 0 and is hidden. It also will be used for an S-Corp to ensure your Self Employed Health Insurance deduction is allowed.

• NOTE: For Married couples, Self Employment taxes are per-person, so the above fields are duplicated for each spouse.

K1 - No SE Taxes

Typically from an S-Corp as distributions. These are not subject to Self Employment taxes.

K1 - Passive Income

Passive Income from Schedule 1 that is not subject to Self Employment Taxes. Typically rental real estate, royalties, partnerships, etc. This will count as investment income toward NIIT.

SE Health Ins Costs

See Form 7206, line 14. This value will be capped to your net business income minus appropriate deductions for half your Self Employment Taxes and your SIMPLE/i401k/etc deductions, or your W2 SS Wages if you have S-Corp distributions.

Addtl QBI-Calculation Income

This is a space for any additional income that should be used during the calculation of your QBI. There are numerous scenarios of income that is outside your “Net Business Income” but still counts toward QBI.

Use Own QBI Value

If this is checked, QBI will not be calculated, but your own estimate may be provided instead.

Own QBI Estimate

The value provided here will be used for the QBI deduction in the final tax calculations.

Credits & Deductions

Non-Itemizer Charitable Deduction

Starting in tax year 2026, if you take the standard deduction, you can take an additional deduction for charitable giving up to the annual cap. See IRS documentation for which contributions are eligible.

• WARNING: The IRS has not yet provided guidance how this will affect your taxes. Most experts agree it will be an above the line deduction and reduce your AGI. When the IRS provides guidance later in 2026 we may need to update the behavior and documentation as required.

Itemized Deduction

If you itemize your return, enter the value here. If you want to use the standard deduction, leave this value $0.

• WARNING: For the 2026 tax year, we implement the “2/37 rule”, which limits itemized deductions for high earners in the 37% tax bracket. At present the IRS has provided no guidance on the exact calculations, so the current implementation is a best effort with the information known. We will update calculations appropriately as the IRS provides more guidance and update this note.

Sched 1-A Deductions

These deductions are generally for line 13b from Schedule 1-A, added in the OBBA. The Enhanced Senior Deduction will be calculated for you with phase outs if over 65. You can manually calculate any other deductions and add them here.

Non Refundable Credits

Tax credits that are non-refundable. Most commonly EV or Solar, but see Form 5695 for a non-exhaustive list of possible options.

All Other Tax Credits

Any tax credits that are not supported elsewhere can be added here. These would typically be on Form 1040, lines 27 through 31 or Schedule 3, Part II.

Taxes Paid

All taxes you have paid so far. This is most commonly via estimated payments or from your W2. This field is optional, it will just reduce the final taxes owed amount.

ACA

Addtl ACA MAGI

For some families, you may need to include dependent MAGI for ACA calculations. See Form 8962, line 2b.

FPL

The federal poverty level for your ACA calculation. Varies by household size. NOTE: If you set the FPL to $0, ACA data will be hidden. FPL can typically be found here.

Second Lowest Cost Silver Plan

See Form 8962, line 11b. This varies by your zip code and can be found via the health coverage tax tool. See also the healthcare.gov tax tool. Enter the annual amount.