Abgeltungsteuer Calculator
See in seconds how much of your capital gains and dividends Germany's 25 % flat tax takes, with loss offsetting, saver's allowance, partial exemption, foreign tax credit and a check whether your personal rate beats the flat rate.
1Gains & losses
€
Profits actually realized this year by selling shares, ETFs or funds. Paper gains on positions you still hold are not taxed.
Fund type (partial exemption)
Partial exemption: 30 % of fund income stays tax-free (equity funds ≥ 51 % stocks: 30 %, mixed funds ≥ 25 %: 15 %, direct shares and other assets: 0 %).
€
Losses actually realized by selling this year. They are offset against your gains first, then against dividends. Note: losses from selling individual shares can only be offset against gains from selling shares.
2Dividends & distributions
€
Dividends from shares and distributions from funds or ETFs received during the year.
Source (partial exemption)
Partial exemption on these distributions: 0 %. Pick "Shares / other" for dividends from individual shares, they get no exemption.
€
Foreign tax already withheld on your dividends that Germany credits under a tax treaty, typically up to 15 % on US dividends. It is credited against the Abgeltungsteuer.
3Filing status & allowance
Filing status
Saver’s allowance (Sparerpauschbetrag) 2026: 1,000 €. It is applied automatically to your taxable income here.
€
The part of your Sparerpauschbetrag that other banks have already consumed this year via exemption orders. 1,000 € remains available here.
4Church tax & personal rate
Church tax
8 % in Bavaria and Baden-Württemberg, 9 % in all other federal states. Church tax slightly lowers the withholding rate to 24.51 % or 24.45 %.
€
Your other taxable income this year (joint income for couples), without these investment earnings. If set, the calculator checks whether the Günstigerprüfung would beat the 25 % flat rate.
Abgeltungsteuer 2026
1,740.75 €
Total tax on your investment income. 8,259.25 € remains after tax.
Gross investment income10,000.00 €
Tax-free via partial exemption−2,400.00 €
Taxable after partial exemption7,600.00 €
Saver’s allowance applied−1,000.00 €
Tax base6,600.00 €
Abgeltungsteuer (25 %)1,650.00 €
Solidarity surcharge (5.5 % of the tax)90.75 €
Total tax1,740.75 €
Effective rate on gross income17.41 %
Net proceeds after tax8,259.25 €
The saver’s allowance saves you 263.75 € in tax. Make sure an exemption order (Freistellungsauftrag) at your broker actually claims it, otherwise you only get it back through the tax return.
Günstigerprüfung: if your personal marginal income-tax rate is below 25 %, tick the favourable-rate check in Anlage KAP of your tax return. The tax office then applies your lower personal rate instead, this can only reduce your tax, never increase it.
How to
How to use the Abgeltungsteuer calculator
1
Enter your realized gains
Only gains you actually realized by selling count. Add up the profits from all sales of shares, ETFs and funds in the calendar year; realized losses reduce this figure.
2
Add dividends and distributions
Enter all dividends from shares and distributions from funds received in the same year. Together with your gains they form your gross investment income.
3
Pick filing status, fund type and church tax
The saver’s allowance is €1,000 for singles and €2,000 for joint filers. Fund income gets a partial exemption (30 % equity funds, 15 % mixed funds), direct shares get none. Church-tax payers choose 8 % (Bavaria, Baden-Württemberg) or 9 % (all other states).
4
Read the step-by-step result
The breakdown shows how the gross income shrinks through partial exemption and allowance, then the 25 % tax with Soli and church tax on top, your effective rate and what actually lands in your pocket.
Concepts
Understanding the Abgeltungsteuer: flat tax, allowance & partial exemption
What is the Abgeltungsteuer?
Since 2009 Germany has taxed private investment income, interest, dividends and realized capital gains, at a flat 25 % instead of your personal income-tax rate. German brokers withhold the tax at source and pass it on anonymously, which settles ("abgilt") your liability: in the standard case you do not even need to mention the income in your tax return.
Sparerpauschbetrag (saver’s allowance)
The first €1,000 of investment income per person and year (€2,000 for jointly assessed couples) is tax-free. The amounts were raised from €801/€1,602 in 2023 and are unchanged for 2026. To benefit at the source you file an exemption order (Freistellungsauftrag) with your broker; otherwise you reclaim the excess through your tax return.
Solidarity surcharge (Soli)
The Soli adds 5.5 % of the tax amount, not of your income, turning the 25 % flat tax into an effective 26.375 %. While the surcharge was largely abolished for wage and income tax in 2021, it still applies in full to the Abgeltungsteuer.
Church tax on capital income
Members of a church pay 8 % (Bavaria, Baden-Württemberg) or 9 % (all other states) of the tax amount on top. Because church tax is deductible in this calculation, the withholding rate itself drops to 24.51 % or 24.45 %, leaving a combined burden of roughly 27.99 % or 27.82 %.
Teilfreistellung (partial exemption)
Fund investors get a slice of their fund income tax-free as compensation for taxes already paid inside the fund: 30 % for equity funds with at least 51 % stocks, 15 % for mixed funds with at least 25 % stocks, 0 % for bond funds, money-market funds and direct shareholdings. It applies to distributions, the Vorabpauschale and gains from selling fund units.
Günstigerprüfung (favourable-rate check)
If your personal marginal tax rate is below 25 %, for example as a student, during parental leave or in retirement, you can request the favourable-rate check in Anlage KAP. The tax office compares both methods and automatically applies whichever is cheaper for you, so ticking the box can never make things worse.
Loss offsetting (Verlustverrechnung)
Realized losses reduce your taxable gains. German brokers track them in loss pots, with one restriction: losses from selling shares can only be offset against gains from selling shares. To move losses to another broker or into your tax return, request a loss certificate (Verlustbescheinigung) by 15 December.
Foreign brokers and the tax return
Only German brokers withhold the Abgeltungsteuer automatically. With a foreign broker you receive gross amounts and must declare all investment income yourself in Anlage KAP, at the same 25 % rate plus surcharges. The same form is used to reclaim an unused allowance or to apply for the Günstigerprüfung.
Tips
Six ways to pay less Abgeltungsteuer
Set up exemption orders
File a Freistellungsauftrag with every broker where you earn investment income and split your €1,000 (or €2,000) between them in proportion to expected earnings. Without it the bank withholds tax from the first euro and you have to reclaim it via the tax return.
Use the allowance every year
The saver’s allowance expires each 31 December, unused amounts do not carry over. Consider realizing gains up to the allowance each year and immediately rebuying (tax-gain harvesting): with an equity fund’s 30 % partial exemption, about €1,429 of realized gains fit under a €1,000 allowance.
Check the Günstigerprüfung in low-income years
In years with little other income, studies, sabbatical, parental leave, early retirement, your personal rate may be below 25 %. Tick the Günstigerprüfung in Anlage KAP and the tax office refunds the difference automatically.
Time your loss certificates
If you hold losses at one broker and gains at another, request a Verlustbescheinigung by 15 December so you can offset them in your tax return. Otherwise the loss pot simply rolls into the next year at the same broker.
Mind the Vorabpauschale on accumulating ETFs
Accumulating funds are taxed annually on a notional minimum return, the Vorabpauschale, which also uses up allowance. Those prepaid amounts are credited when you eventually sell. Use our Vorabpauschale calculator to estimate the January debit.
Couples: use the joint exemption order
Jointly assessed couples can file a common Freistellungsauftrag over €2,000 that covers both partners’ individual and joint accounts. That lets one partner’s unused allowance shelter the other’s income without any extra paperwork.
FAQ
How high is the Abgeltungsteuer in Germany?+
The flat rate is 25 % of taxable investment income. The 5.5 % solidarity surcharge on the tax raises the effective burden to 26.375 %, and church-tax payers land at roughly 27.82 % (8 %) or 27.99 % (9 %) because the base rate simultaneously drops to 24.51 % or 24.45 %.
How high is the Sparerpauschbetrag in 2026?+
€1,000 per person and €2,000 for jointly assessed couples. The amounts have been unchanged since 2023, when they were raised from €801 and €1,602. This calculator applies the allowance automatically based on your filing status.
Which partial exemption applies to my ETF?+
Equity funds that hold at least 51 % stocks (most world ETFs like MSCI World or FTSE All-World) get 30 %. Mixed funds with at least 25 % stocks get 15 %. Bond ETFs, money-market funds and direct shares get no partial exemption.
Do I pay Abgeltungsteuer on gains I have not realized?+
No. Price gains on positions you still hold are not touched by the Abgeltungsteuer. Accumulating funds, however, are subject to the annual Vorabpauschale, a small advance taxable amount that is later credited against your gain when you sell.
What is the Günstigerprüfung and when does it pay off?+
It is a favourable-rate check you request in Anlage KAP of your tax return. If your personal marginal income-tax rate is below 25 %, typical in years with low income, the tax office taxes your investment income at that lower personal rate instead. It never increases your tax, so requesting it carries no risk.
How does church tax affect the Abgeltungsteuer?+
Church members pay 8 % or 9 % of the tax amount as church tax. Because church tax on capital income is deductible as a special expense, the statutory formula lowers the withholding rate to 25 % divided by (1 + 0.25 × church rate), i.e. 24.51 % or 24.45 %, before Soli and church tax are added on top.
Can I offset losses against my gains?+
Yes, realized losses reduce taxable gains, and German brokers do this automatically within their loss pots. Losses from selling shares can only offset gains from selling shares, while fund and ETF losses offset any investment income. For cross-broker offsetting, request a loss certificate by 15 December.
Do I need to declare investment income in my tax return?+
Usually not: a German broker withholds the tax with settling effect. You must (or should) file Anlage KAP if you use a foreign broker, want the Günstigerprüfung, did not use your full allowance, have losses at several brokers, or if no church-tax data was on file.
What is the difference between Abgeltungsteuer and Vorabpauschale?+
The Abgeltungsteuer is the tax rate applied to investment income you actually receive or realize. The Vorabpauschale is not a tax rate but a notional taxable amount for accumulating funds, and it is taxed at exactly this Abgeltungsteuer rate each January. Both share the same allowance and partial-exemption rules.
Does an unused saver’s allowance carry over to the next year?+
No. The Sparerpauschbetrag is a per-calendar-year allowance; whatever you do not use by 31 December is gone. That is why many investors deliberately realize gains up to their remaining allowance late in the year.
Calculated per § 32d EStG and § 20 InvStG: realized losses are offset against gains first, then dividends (losses from selling individual shares are legally only offsettable against share-sale gains; the calculator assumes the entered losses qualify). Each income stream is then reduced by its partial exemption (equity funds 30 %, mixed funds 15 %) and by whatever remains of the saver’s allowance (€1,000 single, €2,000 joint, minus the part already used elsewhere). The tax follows the statutory formula (e − 4q) ÷ (4 + k): 25 % (24.51 %/24.45 % for church-tax payers), reduced by creditable foreign withholding tax, plus 5.5 % solidarity surcharge and 8 %/9 % church tax on the tax amount. The Günstigerprüfung comparison applies the 2026 income-tax tariff (§ 32a, with splitting for joint filers) to the tax base on top of your other income and compares at the income-tax level. Effective rate and net proceeds refer to gross gains plus dividends.
§ 32d, § 20 (9) EStG · § 20 InvStG · illustrative, not tax advice