My wife recently asked me what our take-home pay was last year. This sounded like an easy exercise now that I have my completed, TurboTax generated tax return. But I'm not sure which income and which taxes/payments to use to calculate this number. Might anyone be able to offer a simple formula using the specific values on a tax return?
to start sum up your net paychecks for the year but if you had too much or too little withholding you would have to adjust for that.
there is no way to get this number from your tax return because net pay is not shown on it nor are the income taxes associated with it.
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