Hal_Al
Level 15

State tax filing

Federal and state tax rates are "progressive".  The higher your total income, the higher the tax rate (%) on any additional income.  So, your question can't be answered without knowing how much other income you have.

You can use this tool, for an estimate of federal tax: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1. Enter your regular income first to see the regular tax. Then add the $5000 to see the effect.

 

 

For state tax, see the brackets at https://www.incometaxpro.net/tax-rates/maryland.htm.  You can probably just use 5%, for an easy  estimate.