2018 Individual Deductions and Exemptions

Individual Deductions and Exemptions

Deduction Or Exemption TypeAmount
Standard Deduction20%
Maximum Standard DeductionSingle$4,580
Married Filing Separately$4,580
Married Filing Jointly$9,160
Head of Household$9,160
Minimum Standard DeductionSingle$2,030
Married Filing Separately$2,030
Married Filing Jointly$4,060
Head of Household$4,060
Personal Exemption$2,440
Partial Pension and Annuity Income ExemptionMaximum Exemption$4,180
FAGI thresshold for phase-out$34,820
Capital Gains Tax Credit2%

2018 Individual Income Tax Rates

If your taxable income is more thanbut not more thanYour tax is minus
$0$3,0001% of your taxable income$0
$3,000$5,2002% of your taxable income$30
$5,200$8,0003% of your taxable income$82
$8,000$10,8004% of your taxable income$162
$10,800$13,9005% of your taxable income$270
$13,900$17,9006% of your taxable income$409
$17,9006.9% of your taxable income$570

Other Helpful Information