2024 federal income tax brackets
Single
| Taxable Income | Tax Rate |
|---|---|
| $0 - $11,600 | 10% |
| $11,601 to $47,150 | 12% |
| $47,151 to $100,525 | 22% |
| $100,526 to $191,950 | 24% |
| $191,951 to $243,725 | 32% |
| $243,726 to $609,350 | 35% |
| $609,351 or more | 37% |
Married Filing Jointly
| Taxable Income | Tax Rate |
|---|---|
| $0 to $23,200 | 10% of taxable income |
| $23,201 to $94,300 | 12% |
| $94,301 to $201,050 | 22% |
| $201,051 to $383,900 | 24% |
| $383,901 to $487,450 | 32% |
| $487,451 to $731,200 | 35% |
| $731,201 or more | 37% |
Married Filing Separately
| Taxable Income | Tax Rate |
|---|---|
| $0 - $11,600 | 10% |
| $11,601 to $47,150 | 12% |
| $47,151 to 100,525 | 22% |
| $100,526 to 191,950 | 24% |
| $191,951 to 243,725 | 32% |
| $243,726 to 365,600 | 35% |
| $365,601 or more | 37% |
Head of Household
| Taxable Income | Tax Rate | $0 to $16,550 | 10% of taxable income |
|---|---|
| $16,551 to $63,100 | 12% |
| $63,101 to $100,500 | 22% |
| $100,501 to $191,950 | 24% |
| $191,951 to $243,700 | 32% |
| $243,701 to $609,350 | 35% |
| $609,351 or more | 37% |
2024 Standard Deduction
| Filing Status | Standard Deduction | Married Filing Jointly | $29,200 |
|---|---|
| Single Taxpayers and Married Filing Seperately | $14,600 |
| Heads of Households | $21,900 |
2024 Capital Gain and Qualified dividends Tax Rates
| Rate | Single Filer | Married Filing Jointly and Surviving Spouse | Head of Household | Married Filing Separately |
|---|---|---|---|---|
| 0% | $0-$47,025 | $0-$94,050 | $0-$63,000 | $0-$47,025 |
| 15% | $47,026 to $518,900 | $94,051 to $583,750 | $63,001 to $551,350 | $47,026 to $291,850 |
2024 Other Tax Updates
| Highlights of Changes | New for 2024 | Maximum Earned Income Tax Credit | $7,830 |
|---|---|
| Annual Deductible Medical Savings Account | $2,800to $4,150 |
| Foreign Earned Income Exclusion | $126,500 |
| Estates of Decedents' Basic Exclusion Amount | $13,610,000 |
| Annual Exclusion for Gifts | $18,000 |
| Maximum Adoptions Credit | $16,810 |
| Limitation for Contributions to Health Flexible Spending | $3,200 |
| Monthly Limitation for Qualified Parking | $315 |
