Income Tax Rate Schedules
“The tax is” shows the base amount plus the marginal rate on income over the threshold.
Married Filing Jointly
2026| Over | But not over | The tax is |
|---|---|---|
| $0 | $24,800 | 10% of taxable income |
| $24,800 | $100,800 | $2,480 + 12% |
| $100,800 | $211,400 | $11,600 + 22% |
| $211,400 | $403,550 | $35,932 + 24% |
| $403,550 | $512,450 | $82,048 + 32% |
| $512,450 | $768,700 | $116,896 + 35% |
| $768,700 | — | $206,583.50 + 37% |
Married Filing Jointly
2025| Over | But not over | The tax is |
|---|---|---|
| $0 | $23,850 | 10% of taxable income |
| $23,850 | $96,950 | $2,385 + 12% |
| $96,950 | $206,700 | $11,157 + 22% |
| $206,700 | $394,600 | $35,302 + 24% |
| $394,600 | $501,050 | $80,398 + 32% |
| $501,050 | $751,600 | $114,462 + 35% |
| $751,600 | — | $202,154.50 + 37% |
Single
2026| Over | But not over | The tax is |
|---|---|---|
| $0 | $12,400 | 10% of taxable income |
| $12,400 | $50,400 | $1,240 + 12% |
| $50,400 | $105,700 | $5,800 + 22% |
| $105,700 | $201,775 | $17,966 + 24% |
| $201,775 | $256,225 | $41,024 + 32% |
| $256,225 | $640,600 | $58,448 + 35% |
| $640,600 | — | $192,979.25 + 37% |
Single
2025| Over | But not over | The tax is |
|---|---|---|
| $0 | $11,925 | 10% of taxable income |
| $11,925 | $48,475 | $1,192.50 + 12% |
| $48,475 | $103,350 | $5,578.50 + 22% |
| $103,350 | $197,300 | $17,651 + 24% |
| $197,300 | $250,525 | $40,199 + 32% |
| $250,525 | $626,350 | $57,231 + 35% |
| $626,350 | — | $188,769.75 + 37% |
Estates & Trusts
2026| Over | But not over | The tax is |
|---|---|---|
| $0 | $3,300 | 10% of taxable income |
| $3,300 | $11,700 | $330 + 24% |
| $11,700 | $16,000 | $2,346 + 35% |
| $16,000 | — | $3,851 + 37% |
Estates & Trusts
2025| Over | But not over | The tax is |
|---|---|---|
| $0 | $3,150 | 10% of taxable income |
| $3,150 | $11,450 | $315 + 24% |
| $11,450 | $15,650 | $2,307 + 35% |
| $15,650 | — | $3,777 + 37% |
How to read this. Your tax is the base dollar amount in the “The tax is” column, plus the listed rate applied only to the income above the “Over” amount on that row — not to your whole income. Example: 2026 MFJ taxable income of $150,000 falls in the 22% row, so the tax is $11,600 + 22% × ($150,000 − $100,800) = $22,424.
Standard Deductions & Family Credits
Standard Deduction
2026 · 2025| Filing status | 2026 | 2025 |
|---|---|---|
| Married Filing Jointly | $32,200 | $31,500 |
| Head of Household | $24,150 | $23,625 |
| Single / MFS | $16,100 | $15,750 |
| Additional — Age 65+ or Blind | ||
| Married (per condition) | $1,650 | $1,600 |
| Single, not surviving spouse | $2,050 | $2,000 |
| OBBBA senior deduction (2025–2028): an extra $6,000 per taxpayer age 65+, phasing out above $75,000 (single) / $150,000 (joint). | ||
Child & Kiddie Tax
2026| Child Tax Credit — under age 17 | $2,200 |
| Refundable portion | $1,700 |
| Credit for other dependents | $500 |
| Phases out $50 per $1,000 of MAGI over $400,000 (MFJ) / $200,000 (all others). | |
| Kiddie Tax — under 18, unearned income | |
| First tier — no tax | $1,350 |
| Next tier — child’s rate | $1,350 |
| Amounts over — parent’s rate | $2,700 |
Capital Gains & Qualified Dividends
Preferential rates on qualified dividends and gains for assets held at least 12 months.
0%
Lower income
15%
Middle income
20%
Upper income
Married Filing Jointly
2026 · 2025| Rate | 2026 taxable income | 2025 taxable income |
|---|---|---|
| 0% | up to $98,900 | up to $96,700 |
| 15% | to $613,700 | to $600,050 |
| 20% | above $613,700 | above $600,050 |
Single
2026 · 2025| Rate | 2026 taxable income | 2025 taxable income |
|---|---|---|
| 0% | up to $49,450 | up to $48,350 |
| 15% | to $545,500 | to $533,400 |
| 20% | above $545,500 | above $533,400 |
Net Investment Income Tax. An additional 3.8% may apply to net investment income when MAGI exceeds $250,000 (MFJ) or $200,000 (Single).
Medicare Premiums & IRMAA
Higher-income beneficiaries pay an Income-Related Monthly Adjustment Amount (IRMAA) on Part B and Part D. Amounts are monthly, per person.
Part B & D Income Adjustments (IRMAA)
2026| Single MAGI | Married Filing Jointly MAGI | Part B premium (standard + IRMAA) | Part D premium (+ IRMAA) |
|---|---|---|---|
| $109,000 or less | $218,000 or less | $202.90 | Your plan premium |
| $109,000 – $137,000 | $218,000 – $274,000 | $202.90 + $81.20 = $284.10 | Your plan premium + $14.50 |
| $137,000 – $171,000 | $274,000 – $342,000 | $202.90 + $202.90 = $405.80 | Your plan premium + $37.50 |
| $171,000 – $205,000 | $342,000 – $410,000 | $202.90 + $324.60 = $527.50 | Your plan premium + $60.40 |
| $205,000 – $500,000 | $410,000 – $750,000 | $202.90 + $446.30 = $649.20 | Your plan premium + $83.30 |
| $500,000 and above | $750,000 and above | $202.90 + $487.00 = $689.90 | Your plan premium + $91.00 |
| Married filing separately with MAGI above $109,000 jumps directly to the top surcharge tiers — see the SSA source for the MFS schedule. | |||
The Basics
2026 · 2025| Item | 2026 | 2025 |
|---|---|---|
| Standard Part B premium (monthly) | $202.90 | $185.00 |
| Part B annual deductible | $283 | $257 |
| First IRMAA tier begins — Single | $109,000 | $106,000 |
| First IRMAA tier begins — MFJ | $218,000 | $212,000 |
| IRMAA is set from MAGI two years prior — 2026 premiums use the 2024 return. For this purpose MAGI = AGI + tax-exempt interest. | ||
It’s a cliff, not a phase-in. Crossing a threshold by even $1 triggers the full surcharge for the entire year — per person, so a married couple both on Medicare pays it twice. Roth conversions, large capital gains, and RMDs two years earlier are the usual culprits.
Surcharges can be appealed. After a life-changing event — retirement or reduced work hours, marriage, divorce, or death of a spouse — Form SSA-44 asks Social Security to use more recent income instead of the two-year-old return.
Retirement Plan Limits
Contribution limits, catch-ups, and income eligibility ranges for 2026 and 2025.
IRA — Traditional & Roth
2026 · 2025| Item | 2026 | 2025 |
|---|---|---|
| Base contribution | $7,500 | $7,000 |
| + Catch-up (age 50+) | $1,100 | $1,000 |
| = Total, age 50+ | $8,600 · $8,000 | |
| Qualified Charitable Distribution | $111,000 | $108,000 |
| Traditional and Roth IRAs share this one combined limit — and it is separate from any workplace plan. | ||
Workplace Deferrals
2026 · 2025| Item | 2026 | 2025 |
|---|---|---|
| 401(k) / 403(b) / 457(b) base | $24,500 | $23,500 |
| + Catch-up (age 50–59) | $8,000 | $7,500 |
| = Total, age 50–59 | $32,500 · $31,000 | |
| + Super catch-up (age 60–63) | $11,250 | $11,250 |
| = Total, age 60–63 | $35,750 · $34,750 | |
| SIMPLE IRA | ||
| Base | $17,000 | $16,500 |
| Catch-up (50+) / (60–63) | $4,000 / $5,250 | $3,500 / $5,250 |
Plan Maximums
2026 · 2025| Item | 2026 | 2025 |
|---|---|---|
| Defined contribution total | $72,000 | $70,000 |
| SEP maximum contribution | $72,000 | $70,000 |
| SEP minimum compensation | $800 | $750 |
| Defined benefit max | $290,000 | $280,000 |
| Annual compensation limit | $360,000 | $350,000 |
| Highly compensated employee | $160,000 | $160,000 |
“Covered” by a Workplace Plan?
| What it means | Active participant in an employer plan that year — 401(k), 403(b), 457(b), SEP, SIMPLE, or pension |
| How to check | Box 13 “Retirement plan” is checked on Form W-2 |
| Neither spouse covered | Traditional IRA fully deductible at any income |
| One spouse covered | Each spouse tested separately — the covered and non-covered spouse use different ranges |
| Filing separately, lived apart all year | Treated as Single |
Traditional IRA — Deduction Limits (MAGI)
2026 · 2025| Situation | 2026 | 2025 |
|---|---|---|
| You ARE covered at work — deduction phases out | ||
| Single / Head of Household | $81k–$91k | $79k–$89k |
| Married Filing Jointly | $129k–$149k | $126k–$146k |
| Married Filing Separately | $0–$10k | $0–$10k |
| You are NOT covered at work | ||
| Spouse also not covered | No limit | No limit |
| Spouse IS covered (MFJ) | $242k–$252k | $236k–$246k |
| Spouse IS covered (MFS) | $0–$10k | $0–$10k |
| Contributions to a traditional IRA have no income limit — only the deduction does. Above these ranges you may still contribute on a non-deductible basis. | ||
Roth IRA — Contribution Limits (MAGI)
2026 · 2025| Filing status | 2026 | 2025 |
|---|---|---|
| Single / Head of Household | $153k–$168k | $150k–$165k |
| Married Filing Jointly | $242k–$252k | $236k–$246k |
| Married Filing Separately (lived together) | $0–$10k | $0–$10k |
| Contribution is reduced within the range and eliminated above it. Being covered by a workplace plan does not affect Roth eligibility — only income does. MFS filers who lived apart all year use the Single range. | ||
Two different tests. Anyone with earned income can contribute to a traditional IRA at any income level — the ranges above only decide whether that contribution is tax-deductible. A Roth is the opposite: income decides whether you can contribute at all, and workplace-plan coverage is irrelevant. Over the Roth limit, a non-deductible traditional IRA contribution remains available.
How the limits stack. Catch-ups are added on top of the base limit — a 50+ saver can defer $24,500 + $8,000 = $32,500 to a 401(k) in 2026. The age 60–63 “super catch-up” ($11,250) is used instead of the age-50 catch-up, not on top of it. An IRA and a workplace plan are separate buckets, so the same person can also fund an IRA ($7,500, or $8,600 at 50+). The $72,000 defined-contribution cap counts employer + employee dollars together but excludes catch-ups.
New for 2026. If your prior-year FICA wages exceeded $150,000, any catch-up contribution to a workplace plan must be made as Roth (after-tax) rather than pre-tax.
Required Minimum Distributions
Uniform Lifetime Table — used to calculate lifetime RMDs.
Uniform Lifetime Factors
| Age | Factor | Age | Factor |
|---|---|---|---|
| 72 | 27.4 | 87 | 14.4 |
| 73 | 26.5 | 88 | 13.7 |
| 74 | 25.5 | 89 | 12.9 |
| 75 | 24.6 | 90 | 12.2 |
| 76 | 23.7 | 91 | 11.5 |
| 77 | 22.9 | 92 | 10.8 |
| 78 | 22.0 | 93 | 10.1 |
| 79 | 21.1 | 94 | 9.5 |
| 80 | 20.2 | 95 | 8.9 |
| 81 | 19.4 | 96 | 8.4 |
| 82 | 18.5 | 97 | 7.8 |
| 83 | 17.7 | 98 | 7.3 |
| 84 | 16.8 | 99 | 6.8 |
| 85 | 16.0 | 100 | 6.4 |
| 86 | 15.2 | 101 | 6.0 |
When RMDs start. Age 73 if born 1951–1959; age 75 if born 1960 or later. The first RMD is due by April 1 of the year after you reach that age (all later RMDs by Dec 31). Roth IRAs have no lifetime RMD.
How it works. Divide the prior year-end account balance by the factor for the owner’s age. A separate Joint Life & Last Survivor Table may be used when the sole beneficiary is a spouse more than 10 years younger.
Qualified Charitable Distribution
2026 · 2025| Annual QCD maximum | $111,000 · $108,000 |
| One-time QCD to split-interest entity | $55,000 · $54,000 |
| Available to IRA owners age 70½ or older; counts toward the RMD. | |
Education Incentives
These credits are set by statute and are not inflation-indexed.
American Opportunity Credit
| 100% of first $2,000 of expenses | $2,000 |
| 25% of next $2,000 of expenses | $500 |
| Maximum credit | $2,500 |
| Phase-out (MAGI) | |
| Married Filing Jointly | $160k–$180k |
| All others | $80k–$90k |
Lifetime Learning Credit
| 20% of up to $10,000 of expenses | — |
| Maximum credit | $2,000 |
| Phase-out (MAGI) | |
| Married Filing Jointly | $160k–$180k |
| All others | $80k–$90k |
Estate, Gift & Transfer Taxes
Exemptions & Rates
2026 · 2025| Item | 2026 | 2025 |
|---|---|---|
| Estate tax exemption | $15.00M | $13.99M |
| GST tax exemption | $15.00M | $13.99M |
| Top tax rate | 40% | 40% |
Gifting
2026 · 2025| Annual gift tax exclusion | $19,000 · $19,000 |
| Per recipient, per year. A married couple may combine (“gift-splitting”) to double the amount. | |
Trump Accounts
New tax-deferred savings accounts for children (IRC §530A, One Big Beautiful Bill Act). Contributions began July 4, 2026.
At a Glance
2026| Account type | Tax-deferred IRA for a child |
| Eligibility | U.S. citizen, under 18, with SSN |
| Accounts per child | One |
| Contributions begin | July 4, 2026 |
| Owner | The child |
| Opened by | Guardian → parent → sibling → grandparent |
| Opened via IRS Form 4547 or at trumpaccounts.gov. No income limit and no earned income required to contribute during the growth period. | |
Contributions & Limits
2026 · 2027| Annual limit (combined) | $5,000 |
| Employer contribution | up to $2,500 |
| Federal “seed” deposit | $1,000 |
| Seed deposit is for children born 2025–2028 and does not count toward the $5,000 limit. The $5,000 cap is indexed for inflation after 2027. | |
| Exempt from the $5,000 cap | |
| Government / 501(c)(3) contributions | Excluded |
| Rollovers | Excluded |
| Contributions are not tax-deductible. | |
Access & Taxation
| Investment | Fund tracking a U.S. stock index |
| Growth | Tax-deferred |
| Withdrawals allowed | Jan 1 of year child turns 18 |
| Use of funds | Any purpose |
| At age 18 | Follows traditional IRA rules |
| Distributions are taxed as ordinary income to the extent they exceed basis, like a traditional IRA. | |
How it compares. Unlike a 529 (tax-free only for qualified education) or a custodial Roth IRA (requires the child’s earned income), a Trump Account needs no earned income to fund — but gains are taxed as ordinary income on withdrawal, not tax-free.
Still developing. Rules rest on IRS Notice 2025-68; proposed regulations are pending. Confirm current figures and mechanics before advising a client.
Business & QBI
Corporate Tax
2026 · 2025| Flat rate on taxable income | 21% |
QBI Deduction Threshold
2026| Filing status | Threshold | Phase-in top |
|---|---|---|
| Married Filing Jointly | $403,500 | $553,500 |
| All other returns | $201,775 | $276,775 |
| 2025: $394,600–$494,600 (MFJ); $197,300–$247,300 (all others). | ||
Social Security