| |
Tax Rates
|
Married/Joint
(MFJ) |
Head of Household
(HH) |
Single
(S) |
| |
110% |
0 – 16,700 |
0
–
11,950 |
0 -
8,350 |
| |
115% |
16,701
– 67,900 |
11,951 – 45,500 |
8,351 –
33,950
|
| |
225% |
67,901 – 137,050
|
45,501 – 117,450 |
33,951 – 82,250 |
| |
2(3)28% |
137,051
–
208,850 |
117,451 – 190,200 |
82,251 – 171,550 |
| |
2(3)33% |
208,851 – 372,950 |
190,201
– 372,950 |
171,551 –
372,950 |
| |
2(3)35% |
372,951 & ABOVE |
372,951 & ABOVE |
372,951 & ABOVE |
| |
(1) This rate is not applicable for long
term capital gains, which are mostly capped at 0%.
(2) This rate is not applicable for long
term capital gains, which are mostly capped at 15%.
(3)
The
actual effective marginal tax rate is higher due to the disallowance
of exemptions & itemized deductions. |
| |
Children & Other
Dependents |
|
| UNearned income ONLY: |
(First $ 950) |
NO tax |
| |
($951‑
$8,350)*
|
10% |
| |
|
|
|
*If under age 19 OR
Full time student < 24:
|
($1,901 & up) |
Taxed @ Parent's rate |
| |
|
|
| EARNED income ONLY: |
(First
$5,700)
|
NO tax |
| (All ages) |
(Above
$5,700) |
Taxed @ Single rate (see above) |
| |
|
|
| COMBINATION of EARNED & UNearned Income: |
|
| |
(First $950) |
NO tax |
|
(EARNED income > $950 BUT < $5,700) |
ONLY UNearned income over $300 taxed |
|
(EARNED income > $5,700) |
Excess EARNED income taxed
AND ALL UNearned income taxed |
Loophole: Kiddie Tax does not apply if the child earns > half their support
by themselves.
| |
Married Filing Jointly |
Head of Household |
Single |
| |
$11,400
|
$8,350 |
$5,700 |
| PLUS: |
$ 1,100 |
for EACH 65+ spouse |
| or: |
$ 1,400 |
for a single filer age 65 or older |
| PLUS: |
$ 1,400 |
if legally blind each |
|
|
|
| |
Personal Exemptions |
|
| |
$3,650 per person |
|
|
