Taxable income: Tax:
Over But not over Tax +% On amount over
$ 0 $ 8,700 $ 0.00 10 $ 0
8,700 35,350 870.00 15 8,700
35,350 85,650 4,867.50 25 35,350
85,650 178,650 17,442.50 28 85,650
178,650 388,350 43,482.50 33 178,650
388,350 ....... 112,683.50 35 388,350
Married Individuals Filing Joint and Surviving Spouses
Taxable income: Tax:
Over But not over Tax +% On amount over
$ 0 $ 17,400 $ 0.00 10 $ 0
17,400 70,700 1,740.00 15 17,400
70,700 142,700 9,735.00 25 70,700
142,700 217,450 27,735.00 28 142,700
217,450 388,350 48,665.00 33 217,450
388,350 ....... 105,062.00 35 388,350
Married Individuals Filing Separate
Taxable income: Tax:
Over But not over Tax +% On amount over
$ 0 $ 8,500 $ 0.00 10 $ 0
8,700 35,350 870.00 15 8,700
35,350 71,350 4,867.50 25 35,350
71,350 108,725 13,867.50 28 71,350
108,725 194,175 24,332.50 33 108,725
194,175 ....... 52,531.00 35 194,175
Heads Of Households
Taxable income: Tax:
Over But not over Tax +% On amount over
$ 0 $ 12,400 $ 0.00 10 $ 0
12,400 47,350 1,240.00 15 12,400
47,350 122,300 6,482.50 25 47,350
122,300 198,050 25,220.00 28 122,300
198,050 379,150 46,430.00 33 198,050
388,350 ....... 109,229.00 35 388,350
Long-Term Capital Gains and Qualifying Dividends--2012
For taxpayers in the 10% or 15% bracket--0%
For taxpayers in higher brackets--15%
Tax on unrecaptured Sec. 1250 gain--25%
Capital gain rate on collectibles--28%
Standard Deduction--
2012
Filing Status Standard Deduction
Married filing joint and
surviving spouses $11,900
Heads of Household 8,700
Single individuals 5,950
Married, filing separate 5,950
Dependent's Standard Deduction--No more than the
greater of $950 or $300 plus the individual's earned income.
Additional standard deduction for aged and blind--$1,150 each ($1,450 if
individual is unmarried and not surviving spouse)
IRA Phaseout limits
Joint Filers - $92,000 to $112,000
Single Filers - $58,000 to $68,000
Married filing separately Filers - $0 to $10,000
IRA Minimum Distribution
The required minimum distribution is the account(s) balance at the end of the preceding year by the age-based factor from the Uniform Lifetime Table.
| Age |
Distribution Period (years) |
Age |
Distribution Period (years) |
| 70 |
27.4 |
86 |
14.1 |
| 72 |
25.6 |
88 |
12.7 |
| 74 |
23.8 |
90 |
11.4 |
| 76 |
22.0 |
92 |
10.2 |
| 78 |
20.3 |
94 |
9.1 |
| 80 |
18.7 |
96 |
8.1 |
| 82 |
17.1 |
98 |
7.1 |
| 84 |
15.5 |
100 |
6.3 |
