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2010 Federal Tax Rates and Brackets

The IRS has announced the 2010 tax rates, brackets and other inflation adjusted figures for 2010.

Personal Exemption: The personal exemption and dependency exemption are the same as 2009: $3650

Standard Deduction: The standard deduction for married and single taxpayers also stay the same in 2010: $11,400 and $5700. Head of Household standard deduction goes up by $50 to $8,400.

Gift Tax: The gift tax exclusion remains $13,000 (or $26,000 for a married couple who split gifts).

Education: The phase out amount for certain Education tax breaks is increased for 2010. The phase out of the American Opportunity Tax Credit (AOTC) begins at $80,000 for single taxpayers and $160,000 for married (MAGI amounts).

The phase out for §221, qualified student loan interest, begins at $75,000 for single taxpayers and $150,000 for married (also MAGI amounts)


Below are the 2010 Federal tax rates and brackets various amounts of taxable income:

Single

Schedule X, IRC § 1(c)
  • 10% on income between $0 and $8,375
  • 15% on the income between $8,375 and $34,000; plus $837.50
  • 25% on the income between $34,000 and $82,400; plus $4,681.25
  • 28% on the income between $82,400 and $171,850; plus $16,781.25
  • 33% on the income between $171,850 and $373,650; plus $41,827.25
  • 35% on the income over $373,650; plus $108,421.25

Married Joint /Qualifying Widow(er)

Schedule Y-1, IRC §1(a)
  • 10% on the income between $0 and $16,750
  • 15% on the income between $16,750 and $68,000; plus $1,675
  • 25% on the income between $68,000 and $137,300; plus $9,362.50
  • 28% on the income between $137,300 and $209,250; plus $26,687.50
  • 33% on the income between $209,250 and $373,650; plus $46,833.50
  • 35% on the income over $373,650; plus $101,085.50

Married Separate

Schedule Y-2, IRC § 1(d)
  • 10% on the income between $0 and $8,375
  • 15% on the income between $8,375 and $34,000; plus $837.50
  • 25% on the income between $34,000 and $68,650; plus $4,681.25
  • 28% on the income between $68,650 and $104,625; plus $13,343.75
  • 33% on the income between $104,625 and $186,825; plus $23,416.75
  • 35% on the income over $186,825; plus $50,542.75

Head of Household

Schedule Z, IRC § 1(b)
  • 10% on the income between $0 and $11,950
  • 15% on the income between $11,950 and $45,550; plus $1,195
  • 25% on the income between $45,550 and $117,650; plus $6,235
  • 28% on the income between $117,650 and $190,550; plus $24,260
  • 33% on the income between $190,550 and $373,650; plus $44,672
  • 35% on the income over $373,650; plus $105,095









All information presented should be considered general in nature and not advice as to a specific situation.