@ghirakami wrote:
Same question, but for this tax year
Standard deductions for 2020
Single - $12,400 add $1,650 if age 65 or older
Married Filing Separately - $12,400 add $1,300 if age 65 or older
Married Filing Jointly - $24,800 add $1,300 for each spouse age 65 or older
Head of Household - $18,650 add $1,650 if age 65 or older
2020 Federal Income Tax Brackets and Rates for Single Filers, Married Couples Filing Jointly, and Heads of Households
| Rate |
For Single Individuals |
For Married Individuals Filing Joint Returns |
For Heads of Households |
| 10% |
Up to $9,875 |
Up to $19,750 |
Up to $14,100 |
| 12% |
$9,876 to $40,125 |
$19,751 to $80,250 |
$14,101 to $53,700 |
| 22% |
$40,126 to $85,525 |
$80,251 to $171,050 |
$53,701 to $85,500 |
| 24% |
$85,526 to $163,300 |
$171,051 to $326,600 |
$85,501 to $163,300 |
| 32% |
$163,301 to $207,350 |
$326,601 to $414,700 |
$163,301 to $207,350 |
| 35% |
$207,351 to $518,400 |
$414,701 to $622,050 |
$207,351 to $518,400 |
| 37% |
$518,401 or more |
$622,051 or more |
$518,401 or more |
|
Source: Internal Revenue Service
|
Personal exemptions were removed from the Tax Code after tax year 2017.
