Child Support, Alimony and Dependency Exemption Tax Calculator

developed by Sheila May, CPA

Case Name

Case Number

Amounts are annual. 2015 Federal tax rates and exemption amounts are reflected. This is the information that you’ll use to prepare your 2015 tax returns in 2016.

OPTION 1

OPTION 2

Names of Payor and Recipient

Enter filing Status

x Use "Single" or "Head of Household" if, on December 31st, the taxpayer is:

Unmarried,
Legally separated from their spouse under a separate maintenance decree, or
Divorce - absolute.

Use "Married Filing Separately" or "Married Filing Jointly" if, on December 31st, the taxpayer is:

Married and living together as husband and wife,
Living together in a common law marriage recognized in the state where you now live or in the state where the common law marriage began, or
Married and living apart, but not legally separated under a decree of divorce or separate maintenance, or Separated under an interlocutory (not final) decree of divorce.

In some cases, head of household may be used as a filing status even though a taxpayer is married. Please see a tax professional for advice

Enter "1" if filing single
Enter "2" if filing married filing jointly, "2" must be entered for both spouses
Enter "3" if filing married filing separately, "3" must be entered for both spouses
Enter "4" if filing head of household, only one spouse can claim

Income

x Income includes line 7 - 21 from Form 1040 except line 11, alimony received. Income includes:

Wages, salaries, tips
Taxable interest, dividends and tax refunds
Self employment income
Capital gains
Taxable distributions from IRA's, pensions and annuities
Income from real estate, royalties, partnerships, S corporations and trusts
Farm income
Unemployment
Social security benefits

Alimony Paid

Child Support Paid

Adjusted Gross Income

Calculate Deduction

x Calculate deduction

A taxpayer can take a standard deduction or itemize deductions.
If one spouse choses standard or to itemize deductions, the other spouse must do the same.
Generally a taxpayer should Itemize deductions if doing so results in a higher deduction than a standard deduction.

a Standard Deduction
x The standard deduction for 2015 tax returns are:
- $6,300 for individual taxpayers
- $12,600 for married taxpayers filing jointly
- $6,300 for married taxpayers filing separate
- $9,250 for head of household
b Itemized Deduction
x Items included in itemized deduction include:
- Medical expenses
- State and local taxes paid
- Home mortgage interest
- Gifts to charity

Enter number of dependency exemptions, 1 for self

Exemptions reduce your taxable income.
You can deduct $4,000 for each exemption you claim in 2015.

Dependency Exemption Amount

Taxable Income

Tax

Spendable Income

Total Spendable Income

OPTION 1

PAYOR

Names of Payor and Recipient

Amounts are shown separately. The tax return would combine amounts as appropriate for Married Filing Jointly.

Enter filing Status

x Use "Single" or "Head of Household" if, on December 31st, the taxpayer is:

Unmarried,
Legally separated from their spouse under a separate maintenance decree, or
Divorce - absolute.

Use "Married Filing Separately" or "Married Filing Jointly" if, on December 31st, the taxpayer is:

Married and living together as husband and wife,
Living together in a common law marriage recognized in the state where you now live or in the state where the common law marriage began, or
Married and living apart, but not legally separated under a decree of divorce or separate maintenance, or Separated under an interlocutory (not final) decree of divorce.

In some cases, head of household may be used as a filing status even though a taxpayer is married. Please see a tax professional for advice

Enter "1" if filing Single
Enter "2" if filing Married filing Jointly, "2" must be Entered for both spouses
Enter "3" if filing Married filing Separately, 3 must be Entered for both spouses
Enter "4" if filing Head of Household, Only One Spouse Can Claim

Income

x Income includes line 7 - 21 from Form 1040 except line 11, alimony received. Income includes:

Wages, salaries, tips
Taxable interest, dividends and tax refunds
Self employment income
Capital gains
Taxable distributions from IRA's, pensions and annuities
Income from real estate, royalties, partnerships, S corporations and trusts
Farm income
Unemployment
Social security benefits

Alimony Paid $

Child Support Paid $

Adjusted Gross Income $000.00

Calculate Deduction

x Calculate deduction

A taxpayer can take a standard deduction or itemize deductions.
If one spouse choses standard or to itemize deductions, the other spouse must do the same.
Generally a taxpayer should Itemize deductions if doing so results in a higher deduction than a standard deduction.

Standard Deduction
x The standard deduction for 2015 tax returns are:
- $6,300 for individual taxpayers
- $12,600 for married taxpayers filing jointly
- $6,300 for married taxpayers filing separate
- $9,250 for head of household
$000.00
Itemized Deduction
x Items included in itemized deduction include:
- Medical expenses
- State and local taxes paid
- Home mortgage interest
- Gifts to charity
$

Enter number of dependency exemptions, 1 for self

Exemptions reduce your taxable income.
You can deduct $4,000 for each exemption you claim in 2015.

Dependency Exemption Amount $000.00

Taxable Income $000.00

Tax $000.00

Spendable Income $000.00

RECIPIENT

Names of Payor and Recipient

Amounts are shown separately. The tax return would combine amounts as appropriate for Married Filing Jointly.

Enter filing Status

x Use "Single" or "Head of Household" if, on December 31st, the taxpayer is:

Unmarried,
Legally separated from their spouse under a separate maintenance decree, or
Divorce - absolute.

Use "Married Filing Separately" or "Married Filing Jointly" if, on December 31st, the taxpayer is:

Married and living together as husband and wife,
Living together in a common law marriage recognized in the state where you now live or in the state where the common law marriage began, or
Married and living apart, but not legally separated under a decree of divorce or separate maintenance, or Separated under an interlocutory (not final) decree of divorce.

In some cases, head of household may be used as a filing status even though a taxpayer is married. Please see a tax professional for advice

Enter "1" if filing Single
Enter "2" if filing Married filing Jointly, "2" must be Entered for both spouses
Enter "3" if filing Married filing Separately, 3 must be Entered for both spouses
Enter "4" if filing Head of Household, Only One Spouse Can Claim

Income

x Income includes line 7 - 21 from Form 1040 except line 11, alimony received. Income includes:

Wages, salaries, tips
Taxable interest, dividends and tax refunds
Self employment income
Capital gains
Taxable distributions from IRA's, pensions and annuities
Income from real estate, royalties, partnerships, S corporations and trusts
Farm income
Unemployment
Social security benefits

Alimony Paid $000.00

Child Support Paid $000.00

Adjusted Gross Income $000.00

Calculate Deduction

x Calculate deduction

A taxpayer can take a standard deduction or itemize deductions.
If one spouse choses standard or to itemize deductions, the other spouse must do the same.
Generally a taxpayer should Itemize deductions if doing so results in a higher deduction than a standard deduction.

Standard Deduction
x The standard deduction for 2015 tax returns are:
- $6,300 for individual taxpayers
- $12,600 for married taxpayers filing jointly
- $6,300 for married taxpayers filing separate
- $9,250 for head of household
$000.00
Itemized Deduction
x Items included in itemized deduction include:
- Medical expenses
- State and local taxes paid
- Home mortgage interest
- Gifts to charity
$

Enter number of dependency exemptions, 1 for self

Exemptions reduce your taxable income.
You can deduct $4,000 for each exemption you claim in 2015.

Dependency Exemption Amount $000.00

Taxable Income $000.00

Tax $000.00

Spendable Income $000.00

Total Spendable Income $000.00

OPTION 2

PAYOR

Names of Payor and Recipient

Amounts are shown separately. The tax return would combine amounts as appropriate for Married Filing Jointly.

Enter filing Status

x Use "Single" or "Head of Household" if, on December 31st, the taxpayer is:

Unmarried,
Legally separated from their spouse under a separate maintenance decree, or
Divorce - absolute.

Use "Married Filing Separately" or "Married Filing Jointly" if, on December 31st, the taxpayer is:

Married and living together as husband and wife,
Living together in a common law marriage recognized in the state where you now live or in the state where the common law marriage began, or
Married and living apart, but not legally separated under a decree of divorce or separate maintenance, or Separated under an interlocutory (not final) decree of divorce.

In some cases, head of household may be used as a filing status even though a taxpayer is married. Please see a tax professional for advice

Enter "1" if filing single
Enter "2" if filing married filing jointly, '2' must be entered for both spouses
Enter "3" if filing married filing separately, '3' must be entered for both spouses
Enter "4" if filing Head of Household, Only One Spouse Can Claim

Income

x Income includes line 7 - 21 from Form 1040 except line 11, alimony received. Income includes:

Wages, salaries, tips
Taxable interest, dividends and tax refunds
Self employment income
Capital gains
Taxable distributions from IRA's, pensions and annuities
Income from real estate, royalties, partnerships, S corporations and trusts
Farm income
Unemployment
Social security benefits

Alimony Paid $

Child Support Paid $

Adjusted Gross Income $000.00

Calculate Deduction

x Calculate deduction

A taxpayer can take a standard deduction or itemize deductions.
If one spouse choses standard or to itemize deductions, the other spouse must do the same.
Generally a taxpayer should Itemize deductions if doing so results in a higher deduction than a standard deduction.

Standard Deduction
x The standard deduction for 2015 tax returns are:
- $6,300 for individual taxpayers
- $12,600 for married taxpayers filing jointly
- $6,300 for married taxpayers filing separate
- $9,250 for head of household
$000.00
Itemized Deduction
x Items included in itemized deduction include:
- Medical expenses
- State and local taxes paid
- Home mortgage interest
- Gifts to charity
$

Enter number of dependency exemptions, 1 for self

Exemptions reduce your taxable income.
You can deduct $4,000 for each exemption you claim in 2015.

Dependency Exemption Amount $000.00

Taxable Income $000.00

Tax $000.00

Spendable Income $000.00

RECIPIENT

Names of Payor and Recipient

Amounts are shown separately. The tax return would combine amounts as appropriate for Married Filing Jointly.

Enter filing Status

x Use "Single" or "Head of Household" if, on December 31st, the taxpayer is:

Unmarried,
Legally separated from their spouse under a separate maintenance decree, or
Divorce - absolute.

Use "Married Filing Separately" or "Married Filing Jointly" if, on December 31st, the taxpayer is:

Married and living together as husband and wife,
Living together in a common law marriage recognized in the state where you now live or in the state where the common law marriage began, or
Married and living apart, but not legally separated under a decree of divorce or separate maintenance, or Separated under an interlocutory (not final) decree of divorce.

In some cases, head of household may be used as a filing status even though a taxpayer is married. Please see a tax professional for advice

Enter "1" if filing single
Enter "2" if filing Married filing Jointly, "2" must be Entered for both spouses
Enter "3" if filing Married filing Separately, 3 must be Entered for both spouses
Enter "4" if filing Head of Household, Only One Spouse Can Claim

Income

x Income includes line 7 - 21 from Form 1040 except line 11, alimony received. Income includes:

Wages, salaries, tips
Taxable interest, dividends and tax refunds
Self employment income
Capital gains
Taxable distributions from IRA's, pensions and annuities
Income from real estate, royalties, partnerships, S corporations and trusts
Farm income
Unemployment
Social security benefits

Alimony Paid $000.00

Child Support Paid $000.00

Adjusted Gross Income $000.00

Calculate Deduction

x Calculate deduction

A taxpayer can take a standard deduction or itemize deductions.
If one spouse choses standard or to itemize deductions, the other spouse must do the same.
Generally a taxpayer should Itemize deductions if doing so results in a higher deduction than a standard deduction.

Standard Deduction
x The standard deduction for 2015 tax returns are:
- $6,300 for individual taxpayers
- $12,600 for married taxpayers filing jointly
- $6,300 for married taxpayers filing separate
- $9,250 for head of household
$000.00
Itemized Deduction
x Items included in itemized deduction include:
- Medical expenses
- State and local taxes paid
- Home mortgage interest
- Gifts to charity
$

Enter number of dependency exemptions, 1 for self

Exemptions reduce your taxable income.
You can deduct $4,000 for each exemption you claim in 2015.

Dependency Exemption Amount $000.00

Taxable Income $000.00

Tax $000.00

Spendable Income $000.00

Total Spendable Income $000.00