2024 Federal Tax Information
Listed below are the 2024 standard deductions, tax brackets, long-term capital gains rates, and more.
2024 Standard Deductions (for taxes due in 2025)
Filing Status | Standard Deduction |
|---|---|
Single | $14,600 |
Married Filing Jointly | $29,200 |
Married Filing Separately | $14,600 |
Head of Household | $21,900 |
2024 Federal Income Tax Brackets
Single
Tax Rate | Taxable Income Range | Your Income Tax Is... |
|---|---|---|
10% | 0 - $11,600 | 10% of your taxable income |
12% | $11,601 - $47,150 | $1,160 + 12% of the amount over $11,600 |
22% | $47,151 - $100,525 | $5,426 + 22% of the amount over $47,150 |
24% | $100,526 - $191,950 | $17,168.50 + 24% of the amount over $100,525 |
32% | $191,951 - $243,725 | $39,110.50 + 32% of the amount over $191,950 |
35% | $243,726 - $609,350 | $55,678.50 + 35% of the amount over $243,725 |
37% | Over $609,350 | $183,647.25 + 37% of the amount over $609,350 |
Married Filing Jointly
Tax Rate | Taxable Income Range | Your Income Tax Is... |
|---|---|---|
10% | 0 - $23,200 | 10% of your taxable income |
12% | $23,201 - $94,300 | $2,320 + 12% of the amount over $23,200 |
22% | $94,301 - $201,050 | $10,852 + 22% of the amount over $94,300 |
24% | $201,051 - $383,900 | $34,337 + 24% of the amount over $201,050 |
32% | $383,901 - $487,450 | $78,221 + 32% of the amount over $383,900 |
35% | $487,451 - $731,200 | $111,357 + 35% of the amount over $487,450 |
37% | Over $731,200 | $196,669.50 + 37% of the amount over $731,200 |
Married Filing Separately
Tax Rate | Taxable Income Range | Your Income Tax Is... |
|---|---|---|
10% | 0 - $11,600 | 10% of your taxable income |
12% | $11,601 - $47,150 | $1,160 + 12% of the amount over $11,600 |
22% | $47,151 - $100,525 | $5,426 + 22% of the amount over $47,150 |
24% | $100,526 - $191,950 | $17,168.50 + 24% of the amount over $100,525 |
32% | $191,951 - $243,725 | $39,110.50 + 32% of the amount over $191,950 |
35% | $243,726 - $365,600 | $55,678.50 + 35% of the amount over $243,725 |
37% | Over $365,600 | $98,334.75 + 37% of the amount over $365,600 |
Head of Household
Tax Rate | Taxable Income Range | Your Income Tax Is... |
|---|---|---|
10% | 0 - $16,550 | 10% of your taxable income |
12% | $16,551 - $63,100 | $1,655 + 12% of the amount over $16,550 |
22% | $63,101 - $100,500 | $7,241 + 22% of the amount over $63,100 |
24% | $100,501 - $191,950 | $15,469 + 24% of the amount over $100,500 |
32% | $191,951 - $243,700 | $37,417 + 32% of the amount over $191,950 |
35% | $243,701 - $609,350 | $53,977 + 35% of the amount over $243,700 |
37% | Over $609,350 | $181,954.50 + 37% of the amount over $609,350 |
2024 Long-Term Capital Gains Rates & Brackets
Tax Rate | Single | Married Filing Jointly | Married Filing Separately | Head of Household |
|---|---|---|---|---|
0% | $0 – $47,025 | $0 – $94,050 | $0 – $47,025 | $0 – $63,000 |
15% | $47,025 – $518,900 | $94,050 – $583,750 | $47,025 – $291,850 | $63,000 – $551,350 |
20% | Over $518,900 | Over $583,750 | Over $291,850 | Over $551,350 |
2024 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) |
2024 Trusts & Estates
Rate | Trust Income |
|---|---|
10% | $0 - $3,100 |
24% | $3,101 - $11,150 |
35% | $11,151 - $15,200 |
37% | Over $15,200 |
2024 Alternative Minimum Tax – Exemptions
Filing Status | Exemption Amount |
|---|---|
Individual | $85,700 |
Married Filing Jointly | $133,300 |
Married Filing Separately | $66,650 |