2023 Federal Tax Information
Listed below are the 2023 tax brackets, standard deductions, long-term capital gains rates, and more.
2023 Federal Income Tax Brackets (for taxes due in 2024)
Single
Tax Rate | Taxable Income Range | Your Income Tax Is... |
|---|---|---|
10% | $0 to $11,000 | 10% of your taxable income |
12% | $11,001 to $44,725 | $1,100 plus 12% of the amount over $11,000 |
22% | $44,726 to $95,375 | $5,147 plus 22% of the amount over $44,725 |
24% | $95,376 to $182,100 | $16,290 plus 24% of the amount over $95,375 |
32% | $182,101 to $231,250 | $37,104 plus 32% of the amount over $182,100 |
35% | $231,251 to $578,125 | $52,832 plus 35% of the amount over $231,250 |
37% | Over $578,125 | $174,238.25 plus 37% of the amount over $578,125 |
Married Filing Jointly
Tax Rate | Taxable Income Range | Your Income Tax Is... |
|---|---|---|
10% | $0 to $22,000 | 10% of your taxable income |
12% | $22,001 to $89,450 | $2,200 plus 12% of the amount over $22,000 |
22% | $89,451 to $190,750 | $10,294 plus 22% of the amount over $89,450 |
24% | $190,751 to $364,200 | $32,580 plus 24% of the amount over $190,750 |
32% | $364,201 to $462,500 | $74,208 plus 32% of the amount over $364,200 |
35% | $462,501 to $693,750 | $105,664 plus 35% of the amount over $462,500 |
37% | Over $693,750 | $186,601.50 + 37% of the amount over $693,750 |
Married Filing Separately
Tax Rate | Taxable Income Range | Your Income Tax Is... |
|---|---|---|
10% | $0 to $11,000 | 10% of your taxable income |
12% | $11,001 to $44,725 | $1,100 plus 12% of the amount over $11,000 |
22% | $44,726 to $95,375 | $5,147 plus 22% of the amount over $44,725 |
24% | $95,376 to $182,100 | $16,290 plus 24% of the amount over $95,375 |
32% | $182,101 to $231,250 | $37,104 plus 32% of the amount over $182,100 |
35% | $231,251 to $346,875 | $52,832 plus 35% of the amount over $231,250 |
37% | Over $346,875 | $93,300.75 plus 37% of the amount over $346,875 |
Head of Household
Tax Rate | Taxable Income Range | Your Income Tax Is... |
|---|---|---|
10% | $0 to $15,700 | 10% of your taxable income |
12% | $15,701 to $59,850 | $1,570 plus 12% of the amount over $15,700 |
22% | $59,851 to $95,350 | $6,868 plus 22% of the amount over $59,850 |
24% | $95,351 to $182,100 | $14,678 plus 24% of the amount over $95,350 |
32% | $182,101 to $231,250 | $35,498 plus 32% of the amount over $182,100 |
35% | $231,251 to $578,100 | $51,226 plus 35% of the amount over $231,250 |
37% | Over $578,100 | $172,623.50 plus 37% of the amount over $578,100 |
2023 Long-Term Capital Gains Rates & Brackets
Tax Rate | Single | Married Filing Jointly | Married Filing Separately | Head of Household |
|---|---|---|---|---|
0% | $0–$44,625 | $0–$89,250 | $0–$44,625 | $0-$59,750 |
15% | $44,626-$492,300 | $89,251-$553,850 | $44,626-$276,900 | $59,751-$523,050 |
20% | Over $492,300 | Over $553,850 | Over $276,900 | Over $523,050 |
2023 Child Tax Credit
Maximum Credit | Phase-Outs Begin at Income of |
|---|---|
$2,000 per qualifying child (has not reached age 17 during the year) | $400,000 (Married, filing jointly) |
2023 Standard Deductions
Filing Status | Standard Deduction |
|---|---|
Single | $13,850 |
Married Filing Jointly | $27,700 |
Married Filing Separately | $13,850 |
Head of Household | $20,800 |
2023 Trusts & Estates
Rate | Trust Income |
|---|---|
10% | $0 - $2,900 |
24% | $2,901 - $10,550 |
35% | $10,551 - $14,450 |
37% | Over $14,450 |
2023 Alternative Minimum Tax – Exemptions
Filing Status | Exemption Amount |
|---|---|
Individual | $81,300 |
Married Filing Jointly | $126,500 |
Married Filing Separately | $63,250 |