2017 Individual Tax Rates Single Individuals You Pay This Amount on the Base of the Bracket Plus This Percentage on the Excess over the Base (Marginal Rate) Average Tax Rate at Top of Bracket If Your Taxable Income Is Up to $9,325 $9,325 - $37,950 $37,950 - $91,900 $91,900 - $191,650 $191,650 - $416,700 $416,700 - $418,400 Over $418,400 10.0% 15.0 25.0 10.0% 13.8 20.4 $0 932.50 5,226.25 18,713.75 46,643.75 120,910.25 121,505.25 28.0 24.3 33.0 29.0 29.0 35.0 39.6 39.6 Standard deduction for individual: $6,350 Plus This Percentage on the Excess over the Base (Marginal Rate) Average Tax Rate at Top of Bracket Married couples Filing Joint Returns You Pay This Amount on the If Your Taxable Base of the Bracket Income Is Up to $18,650 $0 $18,650 - $75,900 1,165.00 $75,900 - $153,100 10,452.50 $153,100 - $233,350 29,752.50 $233,350 - $416,700 52,222.50 $416,700 - $470,700 112,728.00 Over $470,700 131,628.00 10.0% 15.0 25.0 28.0 10.0% 13.8 19,4 33.0 22.4 27.1 28.0 35.0 39.6 39.6 Standard deduction for married couples filing jointly: $12,700 Quantitative Problem: Jenna is a single taxpayer with no dependents so she qualifies for one personal exemption. During 2017, she earned wages of $104,000. She doesn't itemize deductions, so she will take the standard deduction and her personal exemption to calculate 2017 taxable income. In addition, during the year she sold common stock that she had owned for five years for a net profit of $6,200. How much does Jenna owe to the IRS for taxes? Round your intermediated and final answers to the nearest cent. $