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Income Tax Key Numbers 2017 and 2018

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Qualified charitable distributions (QCDs)

Qualified charitable distributions (QCDs) are distributions made directly from an IRA to a qualified charity. Such distributions may be excluded from income and count toward satisfying any required minimum distributions (RMDs) you would otherwise have to receive from your IRA. Individuals age 70½ and older can make up to $100,000 in QCDs per year.

 

Income Tax Key Numbers

Alternative minimum tax (AMT) 2017 2018
Maximum AMT exemption amount $84,500 (MFJ), $54,300 (Single/HOH), $42,250 (MFS) $109,400 (MFJ), $70,300 (Single/HOH), $54,700 (MFS)
Exemption phaseout threshold $160,900 (MFJ), $120,700 (Single/HOH), $80,450 (MFS) $1,000,000 (MFJ), $500,000 (Single/HOH/MFS)
26% rate applies to AMT income (AMTI) at or below this amount (28% rate applies to AMTI above this amount) $187,800 (MFJ/Single/HOH), $93,900 (MFS) $191,100 (MFJ/Single/HOH), $95,550 (MFS)
Exemptions/itemized deductions 2017 2018
Personal & dependency exemptions $4,050 No personal exemption
Phaseout threshold for exemptions and itemized deductions $313,800 (MFJ), $287,650 (HOH), $261,500 (Single), $156,900 (MFS) Phaseout does not apply
Standard deduction 2017 2018
Standard deduction amount $12,700 (MFJ), $9,350 (HOH), $6,350 (Single), $6,350 (MFS) $24,000 (MFJ), $18,000 (HOH), $12,000 (Single), $12,000 (MFS)
Standard deduction for dependent Greater of $1,050 or $350 + earned income Greater of $1,050 or $350 + earned income
Additional deduction for aged/blind $1,550 (Single/HOH), $1,250 (MFJ/MFS) $1,600 (Single/HOH), $1,300 (MFJ/MFS)
Top tax brackets 2017 2018
Single 39.6% of taxable income exceeding $418,400 + $121,505.25 37% of taxable income exceeding $500,000 + $150,689.50
MFJ 39.6% of taxable income exceeding $470,700 + $131,628 37% of taxable income exceeding $600,000 + $161,379
MFS 39.6% of taxable income exceeding $235,350 + $65,814 37% of taxable income exceeding $300,000 + $80,689.50
HOH 39.6% of taxable income exceeding $444,550 + $126,950 37% of taxable income exceeding $500,000 + $149,298
Top capital gain tax rate (20%) thresholds 2017 2018
Single $418,400 $425,800
MFJ $470,700 $479,000
MFS $235,350 $239,500
HOH $444,550 $452,400
Unearned income Medicare contribution tax (Net investment income tax) 2017 2018
Amount of tax 3.80% 3.80%
Applies to lesser of (a) net investment income or (b) modified adjusted gross income exceeding:
Individuals $200,000 $200,000
Married filing jointly $250,000 $250,000
Married filing separately $125,000 $125,000
Standard mileage rates 2017 2018
Use of auto for business purposes (cents per mile) $0.535 $0.545
Use of auto for medical purposes (cents per mile) $0.17 $0.18
Use of auto for moving purposes (cents per mile) $0.17 $0.18
Use of auto for charitable purposes (cents per mile) $0.14 $0.14
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Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual's personal circumstances.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2018.

Registered Representative of and Securities Offered Through Capital Synergy Partners, Member FINRA / SIPC
4400 MacArthur Blvd. Suite 230 Newport Beach, CA 92660 949-442-7413
Stephen Clifford, The Winfield Group, LLC and Capital Synergy Partners are unaffiliated entities.

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