Passive Income Tax Calculator
Estimate U.S. Federal Income Tax on Passive Income (2024 Tax Year)
Tax Estimate Summary (2024 Federal)
Total Passive Income Entered:
Est. Tax on Ordinary Passive Income:
Est. Tax on Qualified Dividends & Long-Term Gains:
Est. Net Investment Income Tax (NIIT 3.8%):
Total Estimated Federal Tax on This Passive Income:
Effective Tax Rate on This Passive Income:
Important Notes & Assumptions:
- Estimates are based on 2024 U.S. Federal tax laws, brackets, and NIIT thresholds.
- State and local income taxes are not included.
- "Taxable Income Before This Passive Income" should be your income after all other deductions (like standard/itemized deductions) have been applied.
- This calculator provides a simplified estimate for common passive income types. It does not cover all tax scenarios, specific deductions against passive income (beyond net rental income provided), passive activity loss rules, or carryovers.
- The NIIT calculation uses the sum of entered passive incomes as Net Investment Income and approximates Modified Adjusted Gross Income (MAGI). Actual MAGI may differ.
- This tool is for informational purposes only. Consult with a qualified tax professional for advice tailored to your specific financial situation.
Long-Term Capital Gains: ${formatCurrency(longTermCG)}
` : ''} `; } // Display Results if (totalPassiveIncomeEl) totalPassiveIncomeEl.textContent = formatCurrency(totalPassiveIncome); if (taxOrdinaryPassiveEl) taxOrdinaryPassiveEl.textContent = formatCurrency(taxAttributableToPassiveOrdinary); if (taxPreferentialPassiveEl) taxPreferentialPassiveEl.textContent = formatCurrency(taxAttributableToPassivePreferential); if (niitEl) niitEl.textContent = formatCurrency(niitAmount); if (totalTaxOnPassiveEl) totalTaxOnPassiveEl.textContent = formatCurrency(totalTaxOnPassive); if (effectiveRateOnPassiveEl) effectiveRateOnPassiveEl.textContent = `${effectiveRate.toFixed(2)}%`; if (resultsContainer) resultsContainer.style.display = 'block'; } function generatePdf() { if (resultsContainer && resultsContainer.style.display !== 'none' && window.html2canvas && window.jspdf) { const { jsPDF } = window.jspdf; const pdfElement = resultsContainer; const originalStyles = { boxShadow: pdfElement.style.boxShadow, marginTop: pdfElement.style.marginTop, }; pdfElement.style.boxShadow = 'none'; pdfElement.style.marginTop = '0px'; html2canvas(pdfElement, { scale: 2, useCORS: true, backgroundColor: '#ffffff' }).then(canvas => { pdfElement.style.boxShadow = originalStyles.boxShadow; // Restore pdfElement.style.marginTop = originalStyles.marginTop; const imgData = canvas.toDataURL('image/png'); const pdf = new jsPDF({ orientation: 'p', unit: 'pt', format: 'a4' }); const pdfWidth = pdf.internal.pageSize.getWidth(); const pdfHeight = pdf.internal.pageSize.getHeight(); const imgProps = pdf.getImageProperties(imgData); const margin = 30; const availableWidth = pdfWidth - 2 * margin; const availableHeight = pdfHeight - 2 * margin; let imgScaledWidth = imgProps.width; let imgScaledHeight = imgProps.height; const aspectRatio = imgProps.width / imgProps.height; if (imgScaledWidth > availableWidth) { imgScaledWidth = availableWidth; imgScaledHeight = imgScaledWidth / aspectRatio; } if (imgScaledHeight > availableHeight) { imgScaledHeight = availableHeight; imgScaledWidth = imgScaledHeight * aspectRatio; } // Recenter if scaling by height made it too narrow if (imgScaledWidth > availableWidth) { imgScaledWidth = availableWidth; imgScaledHeight = imgScaledWidth / aspectRatio; } const xOffset = (pdfWidth - imgScaledWidth) / 2; const yOffset = margin; pdf.addImage(imgData, 'PNG', xOffset, yOffset, imgScaledWidth, imgScaledHeight); pdf.save('Passive_Income_Tax_Estimate_2024.pdf'); }).catch(err => { console.error("Error generating PDF:", err); pdfElement.style.boxShadow = originalStyles.boxShadow; // Restore on error pdfElement.style.marginTop = originalStyles.marginTop; alert("Error generating PDF. Please try again."); }); } else { alert('Please calculate the estimate first before downloading the PDF.'); } } if (calculateButton) calculateButton.addEventListener('click', calculateAndDisplayTaxes); if (downloadPdfButton) downloadPdfButton.addEventListener('click', generatePdf); });