2022 Tax Brackets and Tax Rates (for filing in 2023)

Single

If taxable income is over:	but not over:	the tax is:
$0	$10,275	10% of the amount over $0
$10,275	$41,775	$1,027.50 plus 12% of the amount over $10,275
$41,775	$89,075	$4,807.50 plus 22% of the amount over $41,775
$89,075	$170,050	$15,213.50 plus 24% of the amount over $89,075
$170,050	$215,950	$34,647.50 plus 32% of the amount over $170,050
$215,950	$539,900	$49,335.50 plus 35% of the amount over $215,950
$539,900	no limit	$162,718 plus 37% of the amount over $539,900

Married Filing Jointly or Qualifying Widow (Widower)

If taxable income is over:	but not over:	the tax is:
$0	$20,550	10% of the amount over $0
$20,550	$83,550	$2,055 plus 12% of the amount over $20,550
$83,550	$178,150	$9,615 plus 22% of the amount over $83,550
$178,150	$340,100	$30,427 plus 24% of the amount over $178,150
$340,100	$431,900	$69,295 plus 32% of the amount over $340,100
$431,900	$647,850	$98,671 plus 35% of the amount over $431,900
$647,850	no limit	$174,235.50 plus 37 % of the amount over $647,850

Married Filing Separately

If taxable income is over:	but not over:	the tax is:
$0	$10,275	10% of the amount over $0
$10,275	$41,775	$1027.50 plus 12% of the amount over $10,275
$41,775	$89,075	$4807.50 plus 22% of the amount over $41,775
$89,075	$170,050	$15,213.50 plus 24% of the amount over $89,075
$170,050	$215,950	$34,647.50 plus 32% of the amount over $170,050
$215,950	$323,925	$49,335.50 plus 35% of the amount over $215,950
$323,925	no limit	$87,126.75 plus 37% of the amount over $323,925

Head of Household

If taxable income is over:	but not over:	the tax is:
$0	$14,650	10% of the amount over $0
$14,650	$55,900	$1,465 plus 12% of the amount over $14,650
$55,900	$89,050	$6,415 plus 22% of the amount over $55,900
$89,050	$170,050	$13,708 plus 24% of the amount over $89,050
$170,050	$215,950	$33,148 plus 32% of the amount over $170,050
$215,950	$539,900	$47,836 plus 35% of the amount over $215,950
$539,900	no limit	$161,218.50 plus 37% of the amount over $539,900

2022 long-term capital gain/qualified dividend (QD) rates (For filing in 2023)

Tax-filing status	0% tax rate	15% tax rate	20% tax rate
Single	$0 to $41,675.	$41,676 to $459,750.	$459,751 or more.
Married, filing jointly	$0 to $83,350.	$83,351 to $517,200.	$517,201 or more.
Married, filing separately	$0 to $41,675.	$41,676 to $258,600.	$258,601 or more.
Head of household	$0 to $55,800.	$55,801 to $488,500.	$488,501 or more

Short-term capital gains are taxed as ordinary income according to federal income tax brackets

2022 Standard Deduction Amounts (For filing in 2023)

Filing status	Basic Standard deductions	Additional Standard deductions Age 65 or over or blind
Single	12,950	1750
Married filing jointly	25,900	1400
Surviving spouse/Qualified widow (widower)	25,900	1400
Married filing separately	12,950	1400
Head of house holder	19,400	1750

LO.4 Which of the following individuals are required to file a tax return for 2022 ? Should any of these individuals file a return even if filing is not required? Why or why not? a. Patricia, age 19 , is a self-employed single individual with gross income of $5,200 from an unincorporated business. Business expenses amounted to $4,900. b. Mike is single and is 67 years old. His gross income from wages was $12,750. c. Ronald is a dependent child under age 19 who received $6,800 in wages from a part-time job. d. Sam is married and files a joint return with his spouse, Lana. Both Sam and Lana are 67 years old. Their combined gross income was $24,250. e. Quinn, age 20, is a full-time college student who is claimed as a dependent by his parents. For 2022 , Quinn has taxable interest and dividends of $2,500