Taxable Income Brackets for 2019
Ordinary Income Tax Rates
| Marginal Tax Rate | Married Filing Jointly | Single |
|---|---|---|
| 10% | $0 – $19,400 | $0 – $9,700 |
| 12% | $19,401 – $78,950 | $9,701 – $39,475 |
| 22% | $78,951 – $168,400 | $39,476 – $84,200 |
| 24% | $168,401 – $321,450 | $84,201 – $160,725 |
| 32% | $321,451 – $408,200 | $160,726 – $204,100 |
| 35% | $408,201 – $612,350 | $204,101 – $510,300 |
| 37%* | Over $612,350 | Over $510,300 |
*The top rate is effectively 40.8% for those subject to the 3.8% Medicare surtax on net investment income.
Long Term Capital Gains and Qualified Dividends Tax
| Long Term Capital Gain Rate | Married Filing Jointly | Single |
|---|---|---|
| 0% | $0 – $78,750 | $0 – $39,375 |
| 15%* | $78,751 – $488,850 | $39,376 – $434,550 |
| 20%** | Over $488,850 | Over $434,550 |
*Clients in the 15% LTCG tax bracket with MAGI over their 3.8% threshold ($250,000 joint filers/$200,000 single filers) will pay an effective rate of 18.8%.
**The top rate is effectively 23.8% for those subject to the 3.8% Medicare surtax on net investment income.
Trust Tax Rates
| 10% | $0 – $2,600 |
| 24% | $2,601 – $9,300 |
| 35% | $9,301 – $12,750 |
| 37% | Over $12,750 |
A child’s unearned income in excess of $2,200 is taxed at trust tax rates, rather than at the parent’s tax rate.
Children affected:
Children under age 18 (or under age 24 for full-time students)
Standard Deductions
| Married-Joint | $24,400 |
| Single | $12,200 |
| Head of Household | $18,350 |
Extra Standard Deduction for Age 65 or Blind:
$1,300 (married-joint)
$1,650 (single)