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2019 Federal Income Tax Information 2019 Federal Tax Rate Schedules Schedule X-Single taxable Income is over: $0 $9,700 $39,475 $84.200 $160,725 $204,100 $510,300 But not over: The tax is: $9.700 10% of taxable income $39,475 $970,00 plus 12% of the excess over $9,700 $84.200 $4,543.00 plus 22% of the excess over $39,475 $160,725 $14,382.50 plus 24% of the excess over $84.200 $204,100 $32,748.50 plus 32% of the excess over $160,725 $510,300 $46,628.50 plus 35% of the excess over $204,100 $153,798,50 plus 37% of the excess over $510,300 Schedule Y-1-Married Filling Jointly or Qualifying Widower) If taxable Income is over $0 $19,400 $78,950 $168.400 $321,450 $408.200 $612,350 But not over: The tax is $19,400 10% of taxable income $78,950 $1.940.00 plus 12% of the excess over $19,400 $168.400 $9,086,00 plus 22% of the excess over $78.950 $321,450 $28.76500 plus 24% of the excess over $168,400 $408,200 $65,497.00 plus 32% of the excess over $321.450 $512,350 $93,257.00 plus 35% of the excess over $408.200 $164.709.50 plus 37% of the excess over $612,350 Schedule Y-2-Married Filing Separately taxable Income is over SO $9.700 $39.475 $84,200 $160,725 $204,100 $306,175 But not over: The tax is: $9.700 10% of taxable income $39,475 $970.00 plus 12% of the excess over $9.700 $84,200 $4,543.00 plus 22% of the excess over $39,475 $160,725 $14,382.50 plus 24% of the excess over $84,200 $204,100 $32.748.50 plus 32% of the excess over $160.725 $306,175 $46,628 50 plus 35% of the excess over $ 204,100 $82,354.75 plus 37of the excess over $306,175 Schedule 2 Head of Household taxable Income is over SO $13,850 552 350 $84,200 $160,700 5204,100 $510.300 But not over $13,850 $52,850 $84.200 $160,700 $204.100 5510,300 The taxi 10% of taxable income $1,38500 ps 12% of the ecoss over 513,850 56,065 00 plus 22% of the excess over $52.850 $12,962.00 plus 24% of the excess over $84.200 $31.322.00 plus 32% of the excess over $160,700 $45,21000 plus 35% of the excess over $204,100 $152,380,00 plus 37% of the excess over 5510,300 2 Appendix 2019 Federal Income Tax Information Business miles Charity miles Medical miles Moving miles Standard Mileage Rates $0.58 $0.14 $0.20 $0.20 Qualified Dividends & Capital Gains Tax Rates Collectible gain 28% Section 1202 gain 28% Unrecaptured Section 1250 gain 25% Other capital gains and qualified dividends based on taxable income Zero taxcrate Single & Married filing separately. taxable income of $0-$39,375 Mered ling jointly, taxable income of $0-$78,750 Head of household: table income of $0-$52.750 15% tax rate Single & Married filing separatelytaxable income of $39,376-$434,550 Married in jointly taxable income of $78,751-5488,850 Head of householdt taxable income of $52.751-$461,700 20% tax rate: Single and Married filing separately taxable income of over $434.550 Married fling jointly taxable income of over $488,850 Head of household taxable income of over $461,700 Short-term capital gains held 1 year or less) are taxed at ordinary tax rates Child Tax Credit Amount per child under 17 $2,000 Credit reduction--$50 per 51.000 over AGI threshold Married ing jointly $400,000 Another taxpayers $200,000 Coverdell Educational Savings Accounts Contributions fimt-$2.000 per year per beneficiary must be in cash, and must be made before the beneficiary turns 18 Phase-out Thresholds Married in jointly-AGI $190,000-$220.000 Single-AGI $95,000-$110,000 Standard Deduction Traditional IRA Contribution Deduction IRA contributions--Lower of $6,000 or the amount of compensation Individuain who are age 50 or older-Lower of $7,000 compensation Filing Status Single Mamed ting jointly Married in separately Head of household Qualifying widowie Addional over 65 or blind Merred, qual widower) Single Head of household Basic Standard Deduction $12.200 $24.400 $ 12.200 $18.350 $24,400 Phase-out if the individual is a participant in another retirement plan Married 5103.000-$123,000 Phase-out range Greater than $123,000-no deduction Single 564,000-$74.000 Phase-out range Greater than $74.000 no deduction $1,300 $1,650 Social Security, Medicare, & Self-Employment Taxes Employee Rate Income Limit Social Security 62% $132.900 Medicare 145% Unlimited - Total 7.65% Self-employed Rate Income Lima Social Security 12.4% $132.900 Medicare 2.9% Unlimited 153% Roth IRA Contribution Roth contribution $6,000 or compensation 50 or older $7.000 or compensation All Roth contributions are not tax deductible Joint Returns--$193,000-$203,000 pase-out range Single or head of household-$122.000 - $137.000 phase-out range Total An additional Medicare tax of 0.9% is assessed on wages and self-employment income in excess of $250,000 married fingity. $125.000 married ning separately. 5200,000 (all others Health Savings Account Contribution Individual $3,500 Fanny $7,000 Taxpayers who are age 55 or older may contribute an additional $1.000 (34.500 individual or $8,000 family home Muz13e_.app.pdf education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fim: mework Seved Required: Use the Tax Rate Schedules to determine the tax liability for each of the following case a. Single taxpayer, taxable income of $37,462 b. Single taxpayer, taxable income of $72.282 c. Married taxpayers, who file a joint return, have taxable income of $46,865 d. Married taxpayers, who file a joint return, have taxable income of $89,942 e. Married taxpayers, who file a joint return, have taxable income of $28,693 f. Single taxpayer, taxable income of $96,798 (For all requirements, round your intermediate computations and final answers to 2 decimal places. Tax liability b. c d. e