Married taxpayers filing separately-$250,800 (up from $248,3).Joint returns and surviving spouses-$501,600 (up from $496,6). ![]() The 15% capital gains tax rate applies to adjusted net capital gain over the amount subject to the 0% rate, and up to: Single filers and married taxpayers filing separately-$40,400 (up from $40,0).Joint returns and surviving spouses-$80,800 (up from $80,0).The 0% capital gains tax rate applies to adjusted net capital gain of up to: Capital Gainsįor 2021, the capital gains tax rates will be as follows: 151 is reduced to zero from 2018 through 2025, this reduction isn’t taken into account for other purposes of the Code, such as who is a qualifying relative for family credit purposes, and eligibility for head-of-household status. While the dependency exemption deduction under Code Sec. For a single taxpayer or head of household who is 65 or over or blind, the additional standard deduction for 2021 will be $1,700 (up from $1,650 in 2020). Older and blind taxpayersįor 2021, the additional standard deduction for married taxpayers 65 or over or blind will be $1,350 (up from $1,300 in 2020). However, the standard deduction may not exceed the regular standard deduction for that individual. Single (other than HoH or surviving spouse)įor an individual who can be claimed as a dependent on another’s return, the basic standard deduction for 2021 will be $1,100 (same as in 2020), or $350 (same as in 2020) plus the individual’s earned income, whichever is greater. The basis standard deduction for 2021 will be: Filing Status ![]() $84,496.75 plus 37% of the excess over $314,150įor estates and trusts: If taxable income is: For married filing separate returns: If taxable income is: Note: The head of household tax rate schedule projections have been updated from a prior version of this article. ![]() $157,804.25 plus 37% of the excess over $523,600įor heads of household: If taxable income is: $168,993.50 plus 37% of the excess over $628,300įor single individuals (other than heads of household and surviving spouses): If taxable income is: For married filing joint returns and surviving spouses: If taxable income is: The tax rate schedules for 2021 will be as follows. While these projections reflect our best judgment, it is nonetheless worth noting that there are instances where IRS may interpret the statute in a different manner. ![]() Where these issues arose in the context of inflation adjustments, Thomson Reuters construed provisions in the way that seemed the most consistent with Congressional intent, reflecting our assumption that these ambiguities will eventually be resolved accordingly. Note: The TCJA (like most new legislation) contains a number of errors and ambiguities and has not yet been the subject of a comprehensive technical corrections bill.
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