So I just filed my taxes for 2018 and on the front sheet it has by adjusted gross income, my taxable income and my tax rate. Is my tax rate go off the AGI or TI?

So I just filed my taxes for 2018 and on the front sheet it has by adjusted gross income, my taxable income and my tax rate. Is my tax rate go off the AGI or TI? Because my tax amount appears to have went off the AGI and not the TI.

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1 Best answer

Expert Alumni

Jun 4, 2019 12:59:24 PM

Your tax rate is based on your taxable income after deductions and exemptions. The taxable income is what is used to go to the Tax Tables or the Tax Rate Schedules to calculate your tax liability. Examples below for 2018 (not yet released by the IRS).

2018 tax brackets and income ranges for single taxpayers

10%: $0 to $9,525 of taxable income
12%: $9,526 to $38,700
22%: $38,701 to $82,500
24%: $82,501 to $157,500
32%: $157,501 to $200,000
35%: $200,001 to $500,000
37%: over $500,000
Standard deduction: $12,000

2018 tax brackets and income ranges for married taxpayers filing jointly and surviving spouses

10%: $0 to $19,050 of taxable income.
12%: $19,051 to $77,400.
22%: $77,401 to $165,000.
24%: $165,001 to $315,000.
32%: $315,001 to $400,000.
35%: $400,001 to $600,000.
37%: over $600,000.
Standard deduction: $24,000

Expert Alumni

Jun 4, 2019 12:59:24 PM

2018 tax brackets and income ranges for single taxpayers

10%: $0 to $9,525 of taxable income
12%: $9,526 to $38,700
22%: $38,701 to $82,500
24%: $82,501 to $157,500
32%: $157,501 to $200,000
35%: $200,001 to $500,000
37%: over $500,000
Standard deduction: $12,000

2018 tax brackets and income ranges for married taxpayers filing jointly and surviving spouses

10%: $0 to $19,050 of taxable income.
12%: $19,051 to $77,400.
22%: $77,401 to $165,000.
24%: $165,001 to $315,000.
32%: $315,001 to $400,000.
35%: $400,001 to $600,000.
37%: over $600,000.
Standard deduction: $24,000

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So I just filed my taxes for 2018 and on the front sheet it has by adjusted gross income, my taxable income and my tax rate. Is my tax rate go off the AGI or TI?