Forum Discussion
jagdish25
Nov 03, 2024Copper Contributor
Using excel to prepare a detailed income and tax computation for federal taxes USA.
I am toying with the idea of preparing a comprehensive excel workbook for preparing a computation of income, adjustments, deductions, taxes and credits similar to a software helping to prepare 1040 r...
mathetes
Nov 12, 2024Gold Contributor
I'm not a tax professional, but I did have some fun putting together the attached, which will calculate US Federal Income Tax for any of the several filing statuses, for several past and the current year.
This include a front sheet that sums up income by the various categories, deductions and so on. Once it gets that to the point where it yields "Taxable Income" then the final computation of taxes owed by a person in the selected filing status for that year, is calculated.
There is some documentation. I'd be happy to answer questions beyond.