Bank Bonus Tax Calculator
Estimate how much of a checking or savings account bonus you may keep after federal, state, and optional Net Investment Income Tax. This is an educational estimate, not tax advice.
Inputs
Estimated result
Schedule B check
This estimate puts your taxable interest and ordinary dividends at $650.00.
Schedule B may not be required from the $1,500 threshold alone.
What this calculator does
It treats a deposit-account bonus like taxable interest, then estimates the amount left after the tax rates you enter. It does not choose your actual bracket for you.
Why Schedule B appears
Schedule B is commonly triggered when taxable interest or ordinary dividends exceed $1,500. Tax software usually handles the form after you enter each payer and amount.
How to use it with ROI
Use this page to estimate tax cost, then use the Bank Bonus ROI Calculator to compare the after-tax bonus against a high-yield savings account.
Important notes
Banks commonly report checking and savings bonuses on Form 1099-INT. IRS Topic 403 says taxable interest must be reported even if no Form 1099-INT arrives. Publication 550 also discusses gifts and services from deposit accounts as interest in some cases.
This calculator is only an estimate. Your actual return may depend on deductions, credits, filing status, state rules, withholding, NIIT eligibility, and other income.