Tax Calculator?

[Rusty_me]

Sorry if this is posted somewhere. I read through most of the stickies but couldn't find what I was looking for. Anyone know of an online calculator to figure out expected taxes.  This year I have some earned income ($22k before taxes/401k) but no longer expect to have earned income so I'm trying to figure out the rest of the equation. Like how much can I convert from 401k/ira to roth.

Some Numbers
$22k wages before taxes/401k
$11k contributed to 401k
$5500 contributed to tradition IRA (didn't really plan to "retire" this soon, could possibly be re-characterized?)
$700 paid in federal taxes (live in texas, no state tax)
$300 paid to medicare

Goal is to pay little/no taxes or get $0 of the taxes already paid back, convert as much 401k/ira to roth ira, stay above the medicare limit as to qualify for ACA subsidies. Dunno how realistic any of this is. Its all a bit mind boggling right now.

[tarheeldan]

Taxcaster I've seen mentioned around these parts: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

[MDM]

Taxcaster I've seen mentioned around these parts: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

TaxCaster can be useful, but it does not consider the saver's credit, which could be significant for the OP.

Either using full 2016 commercial tax software, knowing there will be some small changes in brackets and tiers, or the case study spreadsheet which does have 2017 numbers in place, could be useful.

[Rusty_me]

I think that case study spreadsheet may be what I was looking for.  I'll have to spend some time getting familiar with it but it seems to have all the correct boxes.  :)

[MDM]

I think that case study spreadsheet may be what I was looking for.  I'll have to spend some time getting familiar with it but it seems to have all the correct boxes.  :)

The table below (with some guesses) attempts to replicate the numbers in your OP.

The chart below shows the marginal tax rates for increasing tIRA->Roth conversions.  The three spikes correspond to the three tiers of the saver's credit.

Taxes between $5K and $10K of tIRA->Roth are due to the phaseout of the Earned Income Credit.

This probably isn't your exact situation but it may help you navigate the spreadsheet....  Good luck, and if you have any questions just ask.

Category	Monthly	Comments	Annual
Salary/Wages for earner #1	$1,833		$22,000
Traditional IRA	$458	At maximum	$5,500
401(k) / 403(b) / TSP / etc.	$917	Room to increase?	$11,000
Income subject to IRS tax	$458		$5,500
Federal Total Income	$458		$5,500
Federal tax	-$26	2017 rates, S, stand. ded., 1 exempt.	-$307
State/City tax	$0	Guess, using 0.00% * (AGI - Exempt'n)	$0
Soc. Sec.	$114	Assumes 1 earner paying	$1,364
Medicare	$27		$319
Total income taxes	$115		$1,376
Income before other expenses	$344		$4,124

Filing Status	1	1=S, 2=MFJ, 3=HOH
# Exemptions	1
	Adult #1
Age	30
# of earners	1
Total Income	$5,500
Std. Deduct.	$6,350
Act. Deduct.	$6,350
Exemption	$4,050
AGI	$5,500
MAGI	$11,000
Saver's credit	$1,000
Tax after n-r credit	$0
EIC	$307
Net Tax	-$307
Monthly	-$26
Item. Deduct.	$0
Version	V8.16