Tax Info - 2021
Marginal Ordinary Income Tax Rates
Single
| Rate | Over | To |
|---|---|---|
| 10% | 0 | 9,950 |
| 12% | 9,950 | 40,525 |
| 22% | 40,525 | 86,375 |
| 24% | 86,375 | 164,925 |
| 32% | 164,925 | 209,425 |
| 35% | 209,425 | 523,600 |
| 37% | 523,600 |
Head of Household
| Rate | Over | To |
|---|---|---|
| 10% | 0 | 14,200 |
| 12% | 14,200 | 54,200 |
| 22% | 54,200 | 86,350 |
| 24% | 86,350 | 164,900 |
| 32% | 164,900 | 209,400 |
| 35% | 209,400 | 523,600 |
| 37% | 523,600 |
Married Filing Jointly & Qualifying Widow(er)
| Rate | Over | To |
|---|---|---|
| 10% | 0 | 19,900 |
| 12% | 19,900 | 81,505 |
| 22% | 81,050 | 172,750 |
| 24% | 172,750 | 329,850 |
| 32% | 329,850 | 418,850 |
| 35% | 418,850 | 628,300 |
| 37% | 628,300 |
Married Filing Separately
| Rate | Over | To |
|---|---|---|
| 10% | 0 | 9,950 |
| 12% | 9,950 | 40,525 |
| 22% | 40,525 | 86,375 |
| 24% | 86,375 | 164,925 |
| 32% | 164,925 | 209,425 |
| 35% | 209,425 | 314,150 |
| 37% | 314,150 |
Standard Deduction
Filing Status
Amount
Single
$12,550
Head of Household
$18,800
Married Filing Joint/Qualifying Widow(er)
$25,100
Marrifed Filing Separate
$12,550
Additional Standard Deduction if Blink or Age 65+
Amount
Single
$1,700
Head of Household
$1,700
Married Filing Joint/Qualifying Widow(er)
$1,350
Marrifed Filing Separate
$1,350
Standard Deduction For Dependents
Amount
Regular Amount
$1,100
Maximum amount earned plus $350 up to allowed standard deduction based upon filing status
Personal Exemptions
For 2019-2025, the personal exemption has been suspended; personal exemption is $0.
Phaseout of Personal Exemptions
Filing Status
Phaseout Begins
Phaseout Ends
Married Filing Joint
N/A
N/A
Qualifying Widow(er)
N/A
N/A
Head of Household
N/A
N/A
Single
N/A
N/A
Married Filing Separately
N/A
N/A
Child Tax Credit
The child tax credit is $2,000 per qualifying child. The refundable portions (additional child tax credit)
is $1,400. The credit begins to phase-out at modified adjusted income of $400,000 for married filing joint (
$200,000 for all others).
Capital Gains - Long Term and Short Term
Type of Asset
Short-Term Tax Rate
Long-Term Tax Rate
Net Investment Income Tax (NIIT)
Collectibles
Ordinary Tax Rates
28%
Potential 3.8%
Depreciation Recapture
Ordinary Tax Rates
25%
Potential 3.8%
Qualified Small Bus Stock
Ordinary Tax Rates
28% after exclusion
Potential 3.8%
Other Capital Assets
Ordinary Tax Rates
(See table below)
Potential 3.8%
LTCG Rate
0%
15%
20%
Single
$0-$40,400
$40,401-$445,850
$445,851+
MFJ
$0-$80,800
$80,801-$501,600
$501,601+
H of H
$0-$54,100
$54,101-$473,750
$473,751+
MFS
$0-$40,400
$40,401-$250,800
$250,801+