2020 Federal Tax Information
Below you'll find the 2020 tax brackets, standard deductions, long-term capital gains rates, and more.
Federal Income Tax Brackets
Single
Tax Rate | Taxable Income Range | Your Income Tax Is.. |
|---|---|---|
10% | $0-$9,875 | 10% of your taxable income |
12% | $9,876-$40,125 | $987.50 + 12% of the amount over $9,875 |
22% | $40,126-$85,525 | $4,617.50 + 22% of the amount over $40,125 |
24% | $85,526-$163,300 | $14,605.50 + 24% of the amount over $85,525 |
32% | $163,301-$207,350 | $33,271.50 + 32% of the amount over $163,300 |
35% | $207,351-$518,400 | $47,367.50 + 35% of the amount over $207,350 |
37% | Over $518,400 | $156,235 + 37% of the amount over $518,400 |
Married Filing Jointly
Tax Rate | Taxable Income Range | Your Income Tax Is.. |
|---|---|---|
10% | $0-$19,750 | 10% of your taxable income |
12% | $19,751 - $80,250 | $1,975 + 12% of the amount over $19,750 |
22% | $80,251 - $171,050 | $9,235 + 22% of the amount over $80,250 |
24% | $171,051 - $326,600 | $29,211 + 24% of the amount over $171,050 |
32% | $326,601 - $414,700 | $66,543 + 32% of the amount over $326,600 |
35% | $414,701 - $622,050 | $94,735 + 35% of the amount over $414,700 |
37% | Over $622,051 | $167,307.50 + 37% of the amount over $622,050 |
Married Filing Separately
Tax Rate | Taxable Income Range | Your Income Tax Is.. |
|---|---|---|
10% | $0 - $9,875 | 10% of your taxable income |
12% | $9,876 - $40,125 | $987.50 + 12% of the amount over $9,875 |
22% | $40,126 - $85,525 | $4,617.50 + 22% of the amount over $40,125 |
24% | $85,526 - $163,300 | $14,605.50 + 24% of the amount over $85,525 |
32% | $163,301 - $207,350 | $33,271.50 + 32% of the amount over $163,300 |
35% | $207,351 - $311,025 | $47,367.50 + 35% of the amount over $207,350 |
37% | Over $311,026 | $83,653.75 + 37% of the amount over $311,025 |
Head of Household
Tax Rate | Taxable Income Range | Your Income Tax Is.. |
|---|---|---|
10% | $0-$14,100 | 10% of your taxable income |
12% | $14,101 - $53,700 | $1,410 + 12% of the amount over $14,100 |
22% | $53,701 - $85,500 | $6,162 + 22% of the amount over $53,700 |
24% | $85,501 - $163,300 | $13,158 + 24% of the amount over $85,500 |
32% | $163,301 - $207,350 | $31,830 + 32% of the amount over $163,300 |
35% | $207,351 - $518,400 | $45,926 + 35% of the amount over $207,350 |
37% | Over $518,401 | $154,793.50 + 37% of the amount over $518,400 |
2019 Standard Deductions
Filing Status | Standard Deduction |
|---|---|
Single | $12,400 |
Married Filing Jointly | $24,800 |
Married Filing Separately | $12,400 |
Head of Household | $18,650 |
2019 Trusts & Estates
Rate | Income |
|---|---|
10% | $0 - $2,600 |
24% | $2,601 - $9,450 |
35% | $9,451 - $12,950 |
37% | $12,951 + |
Alternative Min. Tax Exemptions
Filing Status | Exemption Amount |
|---|---|
Individual | $72,900 |
Married Filing Jointly | $113,400 |
Married Filing Separately | $56,700 |