Tax Rates

2024 Tax Rates

2024 Tax Rates Schedule X - Single

$0 $11,600 10% of the taxable amount
$11,600 $47,150 $1,160.00 plus 12% of the excess over $11,600
$47,150 $100,525 $5,426.00 plus 22% of the excess over $47,150
$100,525 $191,950 $17,168.50 plus 24% of the excess over $100,525
$191,950 $243,725 $39,110.50 plus 32% of the excess over $191,950
$243,725 $609,350 $55,678.50 plus 35% of the excess over $243,725
$609,350 no limit $183,647.25 plus 37% of the excess over $609,350

2024 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

$0 $23,200 10% of the taxable amount
$23,200 $94,300 $2,320.00 plus 12% of the excess over $23,200
$94,300 $201,050 $10,852.00 plus 22% of the excess over $94,300
$201,050 $383,900 $34,337.00 plus 24% of the excess over $201,050
$383,900 $487,450 $78,221.00 plus 32% of the excess over $383,900
$487,450 $731,200 $111,357.00 plus 35% of the excess over $487,450
$731,200 no limit $196,669.50 plus 37% of the excess over $731,200

2024 Tax Rates Schedule Y-2 - Married Filing Separately

$0 $11,600 10% of the taxable amount
$11,600 $47,150 $1,160.00 plus 12% of the excess over $11,600
$47,150 $100,525 $5,426.00 plus 22% of the excess over $47,150
$100,525 $191,950 $17,168.50 plus 24% of the excess over $100,525
$191,950 $243,725 $39,110.50 plus 32% of the excess over $191,950
$243,725 $365,600 $55,678.50 plus 35% of the excess over $243,725
$365,600 no limit $98,334.75 plus 37% of the excess over $365,600

2024 Tax Rates Schedule Z - Head of Household

$0 $16,550 10% of the taxable amount
$16,550 $63,100 $1,655.00 plus 12% of the excess over $16,550
$63,100 $100,500 $7,241.00 plus 22% of the excess over $63,100
$100,500 $191,950 $15,469.00 plus 24% of the excess over $100,500
$191,950 $243,700 $37,417.00 plus 32% of the excess over $191,950
$243,700 $609,350 $53,977.00 plus 35% of the excess over $243,700
$609,350 no limit $181,954.50 plus 37% of the excess over $609,350

2024 Tax Rates Estates & Trusts

$0 $3,100 10% of the taxable income
$3,100 $11,150 $310.00 plus 24% of the excess over $3,100
$11,150 $15,200 $2,242.00 plus 35% of the excess over $11,150
$15,200 no limit $3,659.50 plus 37% of the excess over $15,200

Social Security 2024 Tax Rates

Social Security Tax Rate 6.20%
Maximum Social Security Tax $10,453.20
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%

Additional Medicare 2024 Tax Rates

Filing status Compensation over
Married filing jointly $250,000
Married filing separate $125,000
Single $200,000
Head of household (with qualifying person) $200,000
Qualifying widow(er) with dependent child $200,000

Education 2024 Credit and Deduction Limits

Lifetime Learning Credit $2,000
Student Loan Interest Deduction $2,500
Coverdell Education Savings Contribution $2,000

Miscellaneous 2024 Tax Rates

Married filing jointly or Qualifying Widow(er) $29,200
Head of household $21,900
Single or Married filing separately $14,600
Business Equipment Expense Deduction $1,220,000
Prior-year safe harbor for estimated taxes of higher-income taxpayers 110% of your 2023 tax liability
Standard mileage rate for business driving 67 cents
Standard mileage rate for medical/moving driving 21 cents
Standard mileage rate for charitable driving 14 cents
Child Tax Credit $2,000 per qualifying child
Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $94,050 for joint filers and surviving spouses, $63,000 for heads of household, $47,025 for single filers, $47,025 for married taxpayers filing separately, and $3,150 for estates and trusts 0%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $583,750 for joint filers and surviving spouses, $551,350 for heads of household, $518,900 for single filers, $291,850 for married taxpayers filing separately, and $15,450 for estates and trusts 15%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $583,750 for joint filers and surviving spouses, $551,350 for heads of household, $518,900 for single filers, $291,850 for married taxpayers filing separately, and $15,450 for estates and trusts 20%
Long-term gain attributable to certain depreciation recapture 25%
Capital gains tax rate on collectibles and qualified small business stock 28%
Maximum contribution for Traditional/Roth IRA $7,000 if under age 50 $8,000 if 50 or older
Maximum employee contribution to SIMPLE IRA $16,000 if under age 50 $19,500 if 50 or older
Maximum Contribution to SEP IRA 25% of compensation up to $69,000
401(k) maximum employee contribution limit $23,000 if under age 50 $30,500 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption 100%
Annual Exclusion for Gifts $18,000
Foreign Earned Income Exclusion $126,500

2023 Tax Rates

2023 Tax Rates Schedule X - Single

$0 $11,000 10% of the taxable amount
$11,000 $44,725 $1,100.00 plus 12% of the excess over $11,000
$44,725 $95,375 $5,147.00 plus 22% of the excess over $44,725
$95,375 $182,100 $16,290.00 plus 24% of the excess over $95,375
$182,100 $231,250 $37,104.00 plus 32% of the excess over $182,100
$231,250 $578,125 $52,832.00 plus 35% of the excess over $231,250
$578,125 no limit $174,238.25 plus 37% of the excess over $578,125

2023 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

$0 $22,000 10% of the taxable amount
$22,000 $89,450 $2,200.00 plus 12% of the excess over $22,000
$89,450 $190,750 $10,294.00 plus 22% of the excess over $89,450
$190,750 $364,200 $32,580.00 plus 24% of the excess over $190,750
$364,200 $462,500 $74,208.00 plus 32% of the excess over $364,200
$462,500 $693,750 $105,664.00 plus 35% of the excess over $462,500
$693,750 no limit $186,601.50 plus 37% of the excess over $693,750

2023 Tax Rates Schedule Y-2 - Married Filing Separately

$0 $11,000 10% of the taxable amount
$11,000 $44,725 $1,100.00 plus 12% of the excess over $11,000
$44,725 $95,375 $5,147.00 plus 22% of the excess over $44,725
$95,375 $182,100 $16,290.00 plus 24% of the excess over $95,375
$182,100 $231,250 $37,104.00 plus 32% of the excess over $182,100
$231,250 $346,875 $52,832.00 plus 35% of the excess over $231,250
$346,875 no limit $93,300.75 plus 37% of the excess over $346,875

2023 Tax Rates Schedule Z - Head of Household

$0 $15,700 10% of the taxable amount
$15,700 $59,850 $1,570.00 plus 12% of the excess over $15,700
$59,850 $95,350 $6,868.00 plus 22% of the excess over $59,850
$95,350 $182,100 $14,678.00 plus 24% of the excess over $95,350
$182,100 $231,250 $35,498.00 plus 32% of the excess over $182,100
$231,250 $578,125 $51,226.00 plus 35% of the excess over $231,250
$578,125 no limit $172,623.50 plus 37% of the excess over $578,125

2023 Tax Rates Estates & Trusts

$0 $2,900 10% of the taxable income
$2,900 $10,550 $290 plus 24% of the excess over $2,900
$10,550 $14,450 $2,126 plus 35% of the excess over $10,550
$14,450 no limit $3,491 plus 37% of the excess over $14,450

Social Security 2023 Tax Rates

Social Security Tax Rate 6.20%
Maximum Social Security Tax $9,932.40
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%

Additional Medicare 2023 Tax Rates

Filing status Compensation over
Married filing jointly $250,000
Married filing separate $125,000
Single $200,000
Head of household (with qualifying person) $200,000
Qualifying widow(er) with dependent child $200,000

Education 2023 Credit and Deduction Limits

Lifetime Learning Credit $2,000
Student Loan Interest Deduction $2,500
Coverdell Education Savings Contribution $2,000

Miscellaneous 2023 Tax Rates

Married filing jointly or Qualifying Widow(er) $27,700
Head of household $20,800
Single or Married filing separately $13,850
Business Equipment Expense Deduction $1,160,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2022 tax liability
Standard mileage rate for business driving 65.5 cents
Standard mileage rate for medical/moving driving 22 cents
Standard mileage rate for charitable driving 14 cents
Child Tax Credit $2,000 per qualifying child
Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $89,250 for joint filers and surviving spouses, $59,750 for heads of household, $44,625 for single filers, $44,625 for married taxpayers filing separately, and $3,000 for estates and trusts 0%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $553,850 for joint filers and surviving spouses, $523,050 for heads of household, $492,300 for single filers, $276,900 for married taxpayers filing separately, and $14,650 for estates and trusts 15%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $553,850 for joint filers and surviving spouses, $523,050 for heads of household, $492,300 for single filers, $276,900 for married taxpayers filing separately, and $14,650 for estates and trusts 20%
Long-term gain attributable to certain depreciation recapture 25%
Capital gains tax rate on collectibles and qualified small business stock 28%
Maximum contribution for Traditional/Roth IRA $6,500 if under age 50 $7,500 if 50 or older
Maximum employee contribution to SIMPLE IRA $15,500 if under age 50 $19,000 if 50 or older
Maximum Contribution to SEP IRA 25% of compensation up to $66,000
401(k) maximum employee contribution limit $22,500 if under age 50 $30,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $12,920,000
Annual Exclusion for Gifts $17,000
Foreign Earned Income Exclusion $120,000

2022 Tax Rates

2022 Tax Rates Schedule X - Single

$0 $10,275 10% of the taxable amount
$10,275 $41,775 $1,027.50 plus 12% of the excess over $10,275
$41,775 $89,075 $4,807.50 plus 22% of the excess over $41,775
$89,075 $170,050 $15,213.50 plus 24% of the excess over $89,075
$170,050 $215,950 $34,647.50 plus 32% of the excess over $170,050
$215,950 $539,900 $49,335.50 plus 35% of the excess over $215,950
$539,900 no limit $162,718.00 plus 37% of the excess over $539,900

2022 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

$0 $20,550 10% of the taxable amount
$20,550 $83,550 $2,055.00 plus 12% of the excess over $20,550
$83,550 $178,150 $9,615.00 plus 22% of the excess over $83,550
$178,150 $340,100 $30,427.00 plus 24% of the excess over $178,150
$340,100 $431,900 $69,295.00 plus 32% of the excess over $340,100
$431,900 $647,850 $98,671.00 plus 35% of the excess over $431,900
$647,850 no limit $174,253.50 plus 37% of the excess over $647,850

2022 Tax Rates Schedule Y-2 - Married Filing Separately

$0 $10,275 10% of the taxable amount
$10,275 $41,775 $1,027.50 plus 12% of the excess over $10,275
$41,775 $89,075 $4,807.50 plus 22% of the excess over $41,775
$89,075 $170,050 $15,213.50 plus 24% of the excess over $89,075
$170,050 $215,950 $34,647.50 plus 32% of the excess over $170,050
$215,950 $323,925 $49,335.50 plus 35% of the excess over $215,950
$323,925 no limit $87,126.75 plus 37% of the excess over $323,925

2022 Tax Rates Schedule Z - Head of Household

$0 $14,650 10% of the taxable amount
$14,650 $55,900 $1,465.00 plus 12% of the excess over $14,650
$55,900 $89,050 $6,415.00 plus 22% of the excess over $55,900
$89,050 $170,050 $13,708.00 plus 24% of the excess over $89,050
$170,050 $215,950 $33,148.00 plus 32% of the excess over $170,050
$215,950 $539,900 $47,836.00 plus 35% of the excess over $215,950
$539,900 no limit $161,218.50 plus 37% of the excess over $539,900

2022 Tax Rates Estates & Trusts

$0 $2,750 10% of the taxable income
$2,750 $9,850 $275 plus 24% of the excess over $2,750
$9,850 $13,450 $1,979 plus 35% of the excess over $9,850
$13,450 no limit $3,239 plus 37% of the excess over $13,450

Social Security 2022 Tax Rates

Social Security Tax Rate 6.20%
Maximum Social Security Tax $9,114
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%

Additional Medicare 2022 Tax Rates

Filing status Compensation over
Married filing jointly $250,000
Married filing separate $125,000
Single $200,000
Head of household (with qualifying person) $200,000
Qualifying widow(er) with dependent child $200,000

Education 2022 Credit and Deduction Limits

Lifetime Learning Credit $2,000
Student Loan Interest Deduction $2,500
Coverdell Education Savings Contribution $2,000

Miscellaneous 2022 Tax Rates

Married filing jointly or Qualifying Widow(er) $25,900
Head of household $19,400
Single or Married filing separately $12,950
Business Equipment Expense Deduction $1,080,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2021 tax liability
Standard mileage rate for business driving 58.5 cents Jan. 1 - June 30, 2022; 62.5 cents July 1 - Dec. 31, 2022
Standard mileage rate for medical/moving driving 18 cents Jan. 1 - June 30, 2022; 22 cents July 1 - Dec. 31, 2022
Standard mileage rate for charitable driving 14 cents
Child Tax Credit $2,000 per qualifying child
Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $83,350 for joint filers and surviving spouses, $55,800 for heads of household, $41,675 for single filers, $41,675 for married taxpayers filing separately, and $2,800 for estates and trusts 0%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $517,200 for joint filers and surviving spouses, $488,500 for heads of household, $459,750 for single filers, $258,600 for married taxpayers filing separately, and $13,700 for estates and trusts 15%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $517,200 for joint filers and surviving spouses, $488,500 for heads of household, $459,750 for single filers, $258,600 for married taxpayers filing separately, and $13,700 for estates and trusts 20%
Long-term gain attributable to certain depreciation recapture 25%
Capital gains tax rate on collectibles and qualified small business stock 28%
Maximum contribution for Traditional/Roth IRA $6,000 if under age 50 $7,000 if 50 or older
Maximum employee contribution to SIMPLE IRA $14,000 if under age 50 $17,000 if 50 or older
Maximum Contribution to SEP IRA 25% of compensation up to $61,000
401(k) maximum employee contribution limit $20,500 if under age 50 $27,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $12,060,000
Annual Exclusion for Gifts $16,000
Foreign Earned Income Exclusion $112,000

2021 Tax Rates

2021 Tax Rates Schedule X - Single

$0 $9,950 10% of the taxable amount
$9,950 $40,525 $995 plus 12% of the excess over $9,950
$40,525 $86,375 $4,664 plus 22% of the excess over $40,525
$86,375 $164,925 $14,751 plus 24% of the excess over $86,375
$164,925 $209,425 $33,603 plus 32% of the excess over $164,925
$209,425 $523,600 $47,843 plus 35% of the excess over $209,425
$523,600 no limit $157,804.25 plus 37% of the excess over $523,600

2021 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

$0 $19,900 10% of the taxable amount
$19,990 $81,050 $1,990 plus 12% of the excess over $19,990
$81,050 $172,750 $9,328 plus 22% of the excess over $81,050
$172,750 $329,850 $29,502 plus 24% of the excess over $172,750
$329,850 $418,850 $67,206 plus 32% of the excess over $329,850
$418,850 $628,300 $95,686 plus 35% of the excess over $418,850
$628,300 no limit $168,993.50 plus 37% of the excess over $628,300

2021 Tax Rates Schedule Y-2 - Married Filing Separately

$0 $9,950 10% of the taxable amount
$9,950 $40,525 $995 plus 12% of the excess over $9,950
$40,525 $86,375 $4,664 plus 22% of the excess over $40,525
$86,375 $164,925 $14,751 plus 24% of the excess over $86,375
$164,925 $209,425 $33,603 plus 32% of the excess over $164,925
$209,425 $314,150 $47,843 plus 35% of the excess over $209,425
$314,150 no limit $84,496.75 plus 37% of the excess over $314,150

2021 Tax Rates Schedule Z - Head of Household

$0 $14,200 10% of the taxable amount
$14,200 $54,200 $1,420 plus 12% of the excess over $14,200
$54,200 $86,350 $6,220 plus 22% of the excess over $54,200
$86,350 $164,900 $13,293 plus 24% of the excess over $86,350
$164,900 $209,400 $32,145 plus 32% of the excess over $164,900
$209,400 $523,600 $46,385 plus 35% of the excess over $209,400
$523,600 no limit $156,355 plus 37% of the excess over $523,600

2021 Tax Rates Estates & Trusts

$0 $2,650 10% of the taxable income
$2,650 $9,550 $265 plus 24% of the excess over $2,650
$9,550 $13,050 $1,921 plus 35% of the excess over $9,550
$13,050 no limit $3,146 plus 37% of the excess over $13,050

Social Security 2021 Tax Rates

Social Security Tax Rate 6.20%
Maximum Social Security Tax $8,853.60
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%

Additional Medicare 2021 Tax Rates

Filing status Compensation over
Married filing jointly $250,000
Married filing separate $125,000
Single $200,000
Head of household (with qualifying person) $200,000
Qualifying widow(er) with dependent child $200,000

Education 2021 Credit and Deduction Limits

Lifetime Learning Credit $2,000
Student Loan Interest Deduction $2,500
Coverdell Education Savings Contribution $2,000

Miscellaneous 2021 Tax Rates

Married filing jointly or Qualifying Widow(er) $25,100
Head of household $18,800
Single or Married filing separately $12,550
Business Equipment Expense Deduction $1,050,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2020 tax liability
Standard mileage rate for business driving 56 cents
Standard mileage rate for medical/moving driving 16 cents
Standard mileage rate for charitable driving 14 cents
Child Tax Credit $2,000 per qualifying child
Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $80,800 for joint filers and surviving spouses, $54,100 for heads of household, $40,400 for single filers, $40,400 for married taxpayers filing separately, and $2,700 for estates and trusts 0%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $501,600 for joint filers and surviving spouses, $473,750 for heads of household, $445,850 for single filers, $250,800 for married taxpayers filing separately, and $13,250 for estates and trusts 15%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $501,600 for joint filers and surviving spouses, $473,750 for heads of household, $445,850 for single filers, $250,800 for married taxpayers filing separately, and $13,250 for estates and trusts 20%
Long-term gain attributable to certain depreciation recapture 25%
Capital gains tax rate on collectibles and qualified small business stock 28%
Maximum contribution for Traditional/Roth IRA $6,000 if under age 50 $7,000 if 50 or older
Maximum employee contribution to SIMPLE IRA $13,500 if under age 50 $16,500 if 50 or older
Maximum Contribution to SEP IRA 25% of compensation up to $58,000
401(k) maximum employee contribution limit $19,500 if under age 50 $26,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $11,700,000
Annual Exclusion for Gifts $15,000
Foreign Earned Income Exclusion $108,700

2020 Tax Rates