Based upon the information you provided, it appears that your estimated federal income tax liability will be approximately $0. Your effective tax rate is 0.0% and your marginal tax rate is 10.0%.<table class='pure-table' role='grid'><tr><th colspan='3' class='section'>Estimated Tax Analysis</th></tr><tr><td>Gross income<br>(ordinary income rates)</td><td></td><td>$46,776</td></tr><tr><td>Taxable Pass-Through Income</td><td>+</td><td>$0</td></tr><tr><td>Traditional IRA contributions</td><td>-</td><td>$0</td></tr><tr><td>Adjusted gross income</td><td>=</td><td>$46,776</td></tr><tr><td>Standard/Itemized deductions</td><td>-</td><td>$47,500</td></tr><tr><td>Taxable income</td><td>=</td><td>$-724</td></tr><tr><td>Tax liability before credits<br>(includes taxes on pass-through income)</td><td></td><td>$0</td></tr><tr><td>Child tax credits</td><td>-</td><td>$0</td></tr><tr><td>Family tax credits</td><td>-</td><td>$0</td></tr><tr><td>Estimated tax liability</td><td>=</td><td>$0</td></tr></table> <div id="chart1Container">Chart will load here</div> <script type="text/javascript"> <!-- var myChart1 = new FusionCharts( "MSColumn2D", "myChart1Id", "100%", "100%", "0", "1" ); myChart1.setXMLData("<chart showValues='1' showFCMenuItem='0' decimals='0' formatNumberScale='0' caption='Tax Analysis' xAxisName='' numberPrefix='$' bgColor='FFFFFF' showBorder='1' borderColor='FFFFFF' borderThickness='1' canvasBgColor='ffffff' showAlternateHGridColor='0' plotGradientColor=''><categories><category label='' /></categories><dataset seriesName='Tax Liability'><set value='0.0' /></dataset><dataset seriesName='Gross Annual Income'><set value='46776.0' /></dataset></chart>"); // --> </script>