Income Tax Calculator: TaxMode

The app adds additional taxes (1040 Line 17 from Schedule 2) AFTER non-refundable credits like the child tax credit (1040 Line 19) have been deducted, which can leave a portion of the non-refundable child tax credit unused, that could have offset the additional taxes from Schedule 2. Form 1040 deducts the child tax credit after all additional taxes from Schedule 2 such as repayment of excess APTC received in Line 17 have been added to the regular tax from Line 16. Instead, the app only uses a portion of the credit to offset regular tax and the rest of the credit is lost, and then adds the additional Schedule 2 tax to your total tax liability AFTER credits, which is incorrect.

on iPad data entry takes only a few minutes to get a detailed tax forecast and worksheets for 2023, 2024 and 2025. Each year can be saved under a different name and emailed to your computer for review and printing. Good help files. I needed to anticipate large tax bills in 2024 and 2025 after fund sales but Freetaxusa and Turbotax are not functional until mid-January. This tool was available in November and has replaced them.

I HATE iphone (all apple products) since most of the apps are deceptive. This is one of very few apps that are FREE and does what it says without hidden or subscription fees. This whole IRS paying income tax is expensive, hard and stressful enough. This app quickly helps put my mind at ease when trying to figure out estimated income tax payments. I am forever grateful for this!!