Reference Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,900 . 10% of taxable income. Over $19,900 but not over $81,050 $1,990.00 + 12% of the excess over $19,900. Over $81,050 but not over $172,750 $9,328.00 + 22% of the excess over $81,050. Over $172,750 but not over $329,850 ... $29,502.00 +24% of the excess over $172,750. Over $329,850 but not over $418,850 .. $67,206.00 + 32% of the excess over $329,850. Over $418,850 but not over $628,300 ... $95,686.00 + 35% of the excess over 5418,850. Over $628,300 $168,993,50 + 37% of the excess over $628,300. Print Done - Reference Capital Gains and Dividends Capital gains and losses are assigned to baskets. Five possible tax rates will apply to most capital gains and losses: Ordinary income tax rates (up to 37% in 2021) for gains on assets held one year or less 28% rate on collectibles gains and includible Sec 1202 gains Preferential tax rates for gains on assets held for more than one year and qualified dividends based on the taxpayer's taxable income and filing status as shown in the following table: Preferencial Rate Single Filing Jointly* Head of Household Up to $40,400 Up to $80,800 Up to $54,100 15% > $40,400 but not over $445,850 > $80,800 but not over $501,600 > $54,100 but not over $473,750 20% Over $445,850 Over $501,600 Over $473,750 * The corresponding amounts if married filing separately are half of the amounts for filing jointly. The preferential rate is zero for taxable income up to $40,400 if married filing separately. 0% Print Done - X Reference $ $ $ STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,700 and $3,400, respectively, for a taxpayer who is both aged and blind. 25,100 18,800 12,550 12,550 $1,350 $1,700* $ Print Done More info $ Ordinary income Qualified dividends Long-term capital loss Long-term capital gain Charitable contributions Cash distributions to partners 180,000 10,000 (12,000) 28,000 4,000 150,000 Print Done - More info Howard and his wife Dawn, who file a joint return, also had the following income and deductions from sources not connected with the partnership: Income Dawn's salary 40,000 Qualified dividends 3,000 Deductions Mortgage interest 12,000 Real estate taxes 5,800 Charitable contributions 3,000 Howard and Dawn have two children. During 2021, Dawn had $4,500 in federal income taxes withheld from her salary, and Howard made four estimated tax payments of $2,500 each ($10,000 total). Print Done Howard Gartman is a 40% partner in the Horton & Gartman Partnership. During 2021, the partnership reported the total items below (100%) on its Form 1065: (Click the icon to view the items on the Form 1065.) (Click the icon to view more information.) (Click the icon to view the 2021 tax rate schedule.) (Click the icon to view the capital gain rates for 2021.) (Click the icon to view the Standard Deduction amounts.) Read the requirement. ..... First calculate the adjusted gross income (AGI), then calculate taxable income, and finally calculate the balance due/refund. (Calculate the tax using the tax rate schedule. Do not round intermediary calculations. Only round the amounts you enter in the input fields to the nearest whole dollar. Enter a refund using a minus sign or parentheses. If an input field is not used in the table, leave the input field empty, do not select a label or enter a zero.) Adjusted gross income (AGI) Reference Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,900 . 10% of taxable income. Over $19,900 but not over $81,050 $1,990.00 + 12% of the excess over $19,900. Over $81,050 but not over $172,750 $9,328.00 + 22% of the excess over $81,050. Over $172,750 but not over $329,850 ... $29,502.00 +24% of the excess over $172,750. Over $329,850 but not over $418,850 .. $67,206.00 + 32% of the excess over $329,850. Over $418,850 but not over $628,300 ... $95,686.00 + 35% of the excess over 5418,850. Over $628,300 $168,993,50 + 37% of the excess over $628,300. Print Done - Reference Capital Gains and Dividends Capital gains and losses are assigned to baskets. Five possible tax rates will apply to most capital gains and losses: Ordinary income tax rates (up to 37% in 2021) for gains on assets held one year or less 28% rate on collectibles gains and includible Sec 1202 gains Preferential tax rates for gains on assets held for more than one year and qualified dividends based on the taxpayer's taxable income and filing status as shown in the following table: Preferencial Rate Single Filing Jointly* Head of Household Up to $40,400 Up to $80,800 Up to $54,100 15% > $40,400 but not over $445,850 > $80,800 but not over $501,600 > $54,100 but not over $473,750 20% Over $445,850 Over $501,600 Over $473,750 * The corresponding amounts if married filing separately are half of the amounts for filing jointly. The preferential rate is zero for taxable income up to $40,400 if married filing separately. 0% Print Done - X Reference $ $ $ STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,700 and $3,400, respectively, for a taxpayer who is both aged and blind. 25,100 18,800 12,550 12,550 $1,350 $1,700* $ Print Done More info $ Ordinary income Qualified dividends Long-term capital loss Long-term capital gain Charitable contributions Cash distributions to partners 180,000 10,000 (12,000) 28,000 4,000 150,000 Print Done - More info Howard and his wife Dawn, who file a joint return, also had the following income and deductions from sources not connected with the partnership: Income Dawn's salary 40,000 Qualified dividends 3,000 Deductions Mortgage interest 12,000 Real estate taxes 5,800 Charitable contributions 3,000 Howard and Dawn have two children. During 2021, Dawn had $4,500 in federal income taxes withheld from her salary, and Howard made four estimated tax payments of $2,500 each ($10,000 total). Print Done Howard Gartman is a 40% partner in the Horton & Gartman Partnership. During 2021, the partnership reported the total items below (100%) on its Form 1065: (Click the icon to view the items on the Form 1065.) (Click the icon to view more information.) (Click the icon to view the 2021 tax rate schedule.) (Click the icon to view the capital gain rates for 2021.) (Click the icon to view the Standard Deduction amounts.) Read the requirement. ..... First calculate the adjusted gross income (AGI), then calculate taxable income, and finally calculate the balance due/refund. (Calculate the tax using the tax rate schedule. Do not round intermediary calculations. Only round the amounts you enter in the input fields to the nearest whole dollar. Enter a refund using a minus sign or parentheses. If an input field is not used in the table, leave the input field empty, do not select a label or enter a zero.) Adjusted gross income (AGI)