2020 Federal Tax Information

Below you'll find the 2020 tax brackets, standard deductions, long-term capital gains rates, and more.

If you are looking for 2019 tax rates, click here.

 

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