R

Capital Gains Tax Calculator 2026

How much German flat tax (Abgeltungsteuer) do you pay on interest, dividends, share gains and ETFs? The calculator applies the saver's allowance, partial exemption, loss offsetting and church tax, and checks whether the favourability test pays off for you.

100 % freeNo data stored2026 law (§ 32d EStG)

Capital income for the year

€
€
€

Shares & losses

€
€
€

Personal details

€
€
€
€
Your flat tax

€633.00

per year · capital gains tax + solidarity surcharge + church tax

Income before tax

€4,000.00

Yield before tax: 5.00 %

Income after tax

€3,367.00

Yield after tax: 4.21 %

Total tax

Taxable
€2,400.00
Capital gains tax
€600.00
Solidarity surcharge (5.5 %)
€33.00
Total tax
€633.00
Burden per euro above the allowance
26.375 %
Saver's allowance€1,000 of €1,000 · €0 still free

Income, tax and tax-free share

Tax by income type

IncomePart. exemptLossesAllowanceTaxableTax
Interest€800––− €235€565€148.94
Dividends€1,200––− €353€847€223.41
Funds & ETFs€2,000− €600–− €412€988€260.65

Favourability test (§ 32d (6) EStG)

Tax with the flat rate
€633.00
Tax at your personal rate
€811.00
Your marginal rate on the capital income
33.79 %

The favourability test does not pay off — the flat tax is cheaper.

Assumptions & notes

  • Tax year 2026. Flat tax 25 % plus 5.5 % solidarity surcharge. There is no solidarity surcharge threshold for the flat tax. Church tax per § 32d (1) sentence 4 EStG.
  • Foreign withholding tax is not credited. Tax is split across income types proportionally; banks offset in the order of bookings.
  • The favourability test uses the 2026 tariff (basic allowance €12,348) and the solidarity surcharge threshold. Child allowances and church tax as a deduction are simplified.
  • Non-binding estimate, not tax or investment advice. Your annual tax certificate and tax assessment are authoritative.

Send result by email

Was the capital gains tax calculator helpful?

Kaffee ausgeben ☕

Calculate how your ETF savings plan grows after tax

ETF Savings Plan Calculator →

Guide: Tax on Investment Income

Flat tax, exemption orders, favourability test, partial exemption and loss pots explained

German Capital Gains Tax 2026: How the Flat Tax WorksFeatured

German Capital Gains Tax 2026: How the Flat Tax Works

25 % plus surcharges, saver's allowance, partial exemption, loss pots and the favourability test: the complete guide to tax on interest, dividends and ETFs in Germany.

2026-09-249 min read
Exemption Order (Freistellungsauftrag): How to Use Your €1,000 in Full

Exemption Order (Freistellungsauftrag): How to Use Your €1,000 in Full

How to split the saver's allowance across several banks, what applies to married couples and how to reclaim tax you overpaid.

2026-09-245 min read
Favourability Test: When Your Personal Tax Rate Beats 25 %

Favourability Test: When Your Personal Tax Rate Beats 25 %

Who benefits from the favourability test under § 32d (6) EStG, where the break-even lies and how to apply in Annex KAP.

2026-09-245 min read
Partial Exemption for ETFs and Funds: 30, 15, 60 or 80 % Tax-Free

Partial Exemption for ETFs and Funds: 30, 15, 60 or 80 % Tax-Free

Why equity ETFs cost less tax than interest, how the partial exemption works and what the 2026 advance lump sum means.

2026-09-245 min read
Offsetting Capital Losses in Germany: Share Pot, General Pot and Loss Certificate

Offsetting Capital Losses in Germany: Share Pot, General Pot and Loss Certificate

Which losses may be offset against which gains, what changed for derivatives in 2024 and when you need a loss certificate.

2026-09-245 min read

You might also find useful

ETF Savings Plan Calculator

Simulate ETF savings plans: compound interest, scenarios, withdrawal planning

Calculate now →

Compound Interest Calculator

Calculate compound interest: lump sum, savings rate, interest gain & compounding effect

Calculate now →

Income Tax Calculator

Calculate 2026 German income tax: single and joint tariff, solidarity and church tax

Calculate now →

Frequently Asked Questions

The capital gains tax (flat tax, Abgeltungsteuer) is 25 % on investment income above the saver's allowance. On top come a 5.5 % solidarity surcharge on the tax and, if applicable, 8 % or 9 % church tax. Without church tax the total burden is 26.375 %, with 9 % church tax about 27.99 %.

Since 2023 the saver's allowance (Sparer-Pauschbetrag) is €1,000 per person and €2,000 for jointly assessed married couples and civil partners (§ 20 (9) EStG). Capital income up to that amount stays tax-free. For your bank to apply it, you file an exemption order (Freistellungsauftrag).

Church tax is deductible, so the capital gains tax is reduced by the formula e / (4 + k), where k is the church tax rate. With 9 % church tax the capital gains tax is 24.45 % instead of 25 %. On top come 9 % church tax and 5.5 % solidarity surcharge, about 27.99 % in total.

Yes. In 2021 the surcharge was only abolished for about 90 % of wage and income tax payers through a high threshold. That threshold does not apply to the flat tax. The bank always withholds 5.5 % on the capital gains tax. People with low income can reclaim part of it via the favourability test.

The favourability test under § 32d (6) EStG pays off if your personal tax rate on the capital income is below the flat tax of 26.375 % (incl. surcharge). Because normal incomes pay no solidarity surcharge on the regular income tax, the 2026 threshold without church tax is a taxable income of about €25,000 including capital income (couples about €50,000). The tax office then automatically checks which option is cheaper. You apply for it in Annex KAP.

For investment funds, part of the income stays tax-free to compensate for tax at fund level (§ 20 InvStG). For private investors: equity funds 30 %, mixed funds 15 %, real estate funds 60 % and foreign real estate funds 80 %. For an equity ETF, only 70 % of distributions and gains are taxed.

Losses from selling individual shares go into the share loss pot and may only be offset against gains from share sales, not against dividends or interest. All other losses (bonds, funds, certificates, derivatives) go into the general pot and are offset against all positive capital income. Unused losses are carried forward by the bank.

With a non-assessment certificate (NV-Bescheinigung) the tax office confirms that you are unlikely to owe income tax because your income is below the basic allowance (2026: €12,348). Your bank then pays all capital income without tax deduction, even above the saver's allowance. It is valid for up to three years and requested informally from the tax office.

The advance lump sum (Vorabpauschale) taxes accumulating funds even if nothing is distributed. It equals the fund value at the start of the year × base rate × 70 %, capped at the actual gain in value plus distributions (§ 18 InvStG). With the 2026 base rate of 3.20 % that is 2.24 % of the fund value; equity funds also get the partial exemption. The tax is debited in early January 2027.