2018 Individual Tax Rates Single Individuals If Your Taxable Income Is 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 Up to $9,525 $0 10 0 10 0 $9,525 $38,700 952 50 12 0 11 5 $38,700 $82,500 4,453 50 22 0 17 1 $82,500 $157,500 14,089 50 24 0 20 4 $157,500 $200,000 32,089 50 32 0 22 8 $200,000 $500,000 45,689 50 35 0 30 1 Over $500,000 150,689 50 37 0 37 0 Standard deduction for individual $12,000 Married Couples Filing Joint Returns If Your Taxable Income Is 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 Up to $19,050 $0 10 0 10 0 $19,050 $77,400 1,905 00 12 0 11 5 $77,400 $165,000 8,907 00 22 0 17 1 $165,000 $315,000 28,179 00 24 0 20 4 $315,000 $400,000 64,179 00 32 0 22 8 $400,000 $600,000 91,379 00 35 0 26 9 Over $600,000 161,379 00 37 0 37 0 Standard deduction for married couples filing jointly $24,000 Quantitative Problem Jenna is a single taxpayer During 2018, she earned wages of $109,000 She doesn't itemize deductions, so she will take the standard deduction to calculate 2018 taxable income In addition, during the year she sold common stock that she had owned for five years for a net profit of $5,900 How much does Jenna owe to the IRS for taxes Do not round intermediate calculations Round your answer to the nearest cent $

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2018 Individual Tax Rates Single Individuals If Your Taxable Income Is You Pay This Amount on the Base of the Bracket Plus This Percentage on

2018 Individual Tax Rates
Single Individuals
If Your Taxable Income Is	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
Up to $9,525	$0	10.0	%	10.0	%
$9,525 - $38,700	952.50	12.0		11.5
$38,700 - $82,500	4,453.50	22.0		17.1
$82,500 - $157,500	14,089.50	24.0		20.4
$157,500 - $200,000	32,089.50	32.0		22.8
$200,000 - $500,000	45,689.50	35.0		30.1
Over $500,000	150,689.50	37.0		37.0

Standard deduction for individual: $12,000

Married Couples Filing Joint Returns
If Your Taxable Income Is	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
Up to $19,050	$0	10.0	%	10.0	%
$19,050 - $77,400	1,905.00	12.0		11.5
$77,400 - $165,000	8,907.00	22.0		17.1
$165,000 - $315,000	28,179.00	24.0		20.4
$315,000 - $400,000	64,179.00	32.0		22.8
$400,000 - $600,000	91,379.00	35.0		26.9
Over $600,000	161,379.00	37.0		37.0

Standard deduction for married couples filing jointly: $24,000

Quantitative Problem: Jenna is a single taxpayer. During 2018, she earned wages of $109,000. She doesn't itemize deductions, so she will take the standard deduction to calculate 2018 taxable income. In addition, during the year she sold common stock that she had owned for five years for a net profit of $5,900. How much does Jenna owe to the IRS for taxes? Do not round intermediate calculations. Round your answer to the nearest cent.