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2023 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: $ 0 $ 11,000 $ 11,000 $ 44,725 $
2023 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: $ 0 $ 11,000 $ 11,000 $ 44,725 $ 44,725 $ 95,375 $ 95,375 $ 182,100 $231,250 $ 578,125 $ 182,100 $ 231,250 $ 578,125 The tax is: 10% of taxable income $1,100 plus 12% of the excess over $11,000 $5,147 plus 22% of the excess over $44,725 $16,290 plus 24% of the excess over $95,375 $37,104 plus 32% of the excess over $182,100 $52,832 plus 35% of the excess over $231,250 $174,238.25 plus 37% of the excess over $578,125 Tax Rates for Net Capital Gains and Qualified Dividends Taxable Income Rate* 0% Married Filing Jointly $0-$89,250 Married Filing Separately $0 - $44,625 Single Head of Household 15% - $89,251 $553,850 20% $553,851+ $44,626 - $276,900 $276,901+ $0 - $44,625 $44,626- $492,300 Trusts and Estates $0-$3,000 $3,001 - $14,650 $523,051+ $492,301+ $0 - $59,750 $59,751 $523,050 $523,051+ *This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends are included in taxable income last for this purpose). ! Required information [The following information applies to the questions displayed below.] Henrich is a single taxpayer. In 2023, his taxable income is $538,000. What are his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Do not round intermediate calculations. Leave no answer blank. Enter zero if applicable. Round your final answers to 2 decimal places. c. His $538,000 of taxable income includes $55,000 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $570,000. Amount Income tax $ 0.00 Net investment income tax 2,090.00 Total tax liability $ 2,090.00
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