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calculating taxes

Your Guide to the 2021 U.S. Income Tax Brackets

Here's what to expect when you file your tax return.


[Updated: Apr 07, 2021 ] Jan 27, 2021 by Matt Frankel, CFP

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MARGINAL TAX RATE (TAX BRACKET) Taxable Income Range
10% $0 - $9,950
12% $9,950 - $40,525
22% $40,525 - $86,375
24% $86,375 - $164,925
32% $164,925 - $209,425
35% $209,425 - $523,600
37% Above $523,600

Data source: IRS

MARGINAL TAX RATE (TAX BRACKET) Taxable Income Range
10% $0 - $19,900
12% $19,900 - $81,050
22% $81,050 - $172,750
24% $172,750 - $329,850
32% $329,850 - $418,850
35% $418,850 - $628,300
37% Above $628,300

Data source: IRS

MARGINAL TAX RATE (TAX BRACKET) Taxable Income Range
10% $0 - $14,200
12% $14,200 - $54,200
22% $54,200 - $86,350
24% $86,350 - $164,900
32% $164,900 - $209,400
35% $209,400 - $523,600
37% Above $523,600

Data source: IRS

MARGINAL TAX RATE (TAX BRACKET) TAXABLE INCOME RANGE
10% $0 - $9,950
12% $9,950 - $40,525
22% $40,525 - $86,375
24% $86,375 - $164,925
32% $164,925 - $209,425
35% $209,425 - $314,150
37% Above $314,150

Data source: IRS

ITEM Amount
GROSS INCOME $120,000
STANDARD DEDUCTION -$25,100
STUDENT LOAN INTEREST -$2,000
IRA CONTRIBUTIONS -$10,000
TAXABLE INCOME $82,900
LONG-TERM CAPITAL GAINS TAX RATE Single Filers (taxable income) Married Filing Jointly Head of Household Married Filing Separately
0% $0 - $40,400 $0 - $80,800 $0 - $54,100 $0 - $40,400
15% $40,400 - $445,850 $80,800 - $501,600 $54,100 - $473,750 $40,400 - $250,800
20% Over $445,850 Over $501,600 Over $473,750 Over $250,800

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