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      • 2022 Tax Brackets & Rates
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      • Beware of Tax Penalties
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2020 Tax Brackets and Rates

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2020 Federal Tax Brackets

2020 Earn Income Tax Credit for Single and Head of Home

2020 Capital Rates Tax Rate

 

  • Single Filers
  • Married Filing Jointly
  • Married Filing Separate
  • Head of Household

2020 Capital Rates Tax Rate

2020 Earn Income Tax Credit for Single and Head of Home

2020 Capital Rates Tax Rate

 

  • Single
  • Married Filing Jointly
  • Married Filing Separate
  • Head of Household

2020 Earn Income Tax Credit for Single and Head of Home

2020 Earn Income Tax Credit for Single and Head of Home

2020 Earn Income Tax Credit for Single and Head of Home

  • No Children 
  • One Child
  • Two Children 
  • Three or more children

2020 Earn Income Tax Credit for Married Filing Jointly

2020 Earn Income Tax Credit for Married Filing Jointly

2020 Earn Income Tax Credit for Married Filing Jointly

  • No Children 
  • One Child
  • Two Children 
  • Three or more children

2020 Child/Dependent Tax Credit

2020 Earn Income Tax Credit for Married Filing Jointly

2020 Earn Income Tax Credit for Married Filing Jointly

  • Tax Credit per qualifying Child 
  • Dependent Credit for qualifying Dependent 

2020 Standard Deduction and Personal Exemption

2020 Qualified Business Income Deduction Threshold

2020 Qualified Business Income Deduction Threshold

 

  • Single
  • Married Filing Jointly
  • Married Filing Separate
  • Standard Deduction Increase 

2020 Qualified Business Income Deduction Threshold

2020 Qualified Business Income Deduction Threshold

2020 Qualified Business Income Deduction Threshold


  • Single Individual
  • Married filing jointly 

2020 Federal Tax Brackets and Rates

2020 Federal Tax Brackets and Rates for Single Filers

Up to $9,875

10%

10% of taxable income 

$9,876 to $40,125

12%

$987.50 plus 12% of the amount over $9,875 

$40,126 to $85,525

22%

$4,617.50 plus 22% of the amount over $40,125 

$85,526 to $163,300

24%

$14,605.50 plus 24% of the amount over $85,525 

$163,301 to $207,350

32%

$33,271.50 plus 32% of the amount over $163,300 

$207,351 to $518,400

35%

$47,367.50 plus 35% of the amount over $207,350 

$518,401 or more

37%

$156,235 plus 37% of the amount over $518,400 

2020 Federal Tax Brackets & Rates for married couples filing

2020 Federal Tax Brackets and Rates for Married, Filing Jointly

Up to $19,750

10%

10% of taxable income 

$19,751 to $80,250

12%

$1,975 plus 12% of the amount over $19,750 

$80,251 to $171,050

22%

$9,235 plus 22% of the amount over $80,250 

$171,051 to $326,600

24%

$29,211 plus 24% of the amount over $171,050 

$326,601 to $414,700

32%

$66,543 plus 32% of the amount over $326,600 

$414,701 to $622,050

35%

$94,735 plus 35% of the amount over $414,700 

$622,051 or more

37%

$167,307.50 plus 37% of the amount over $622,050 

2020 Fed Tax Brackets & Rates for married, filing separaTE

2020 Federal Tax Brackets and Rates for Married, Filing Separately

$0 to $9,875

10%

10% of taxable income 

$9,876 to $40,125

12%

$987.50 plus 12% of the amount over $9,875 

$40,126 to $85,525

22%

$4,617.50 plus 22% of the amount over $40,125 

$85,526 to $163,300

24%

$14,605.50 plus 24% of the amount over $85,525 

$163,301 to $207,350

32%

$33,271.50 plus 32% of the amount over $163,300 

$207,351 to $311,025

35%

$47,367.50 plus 35% of the amount over $207,350 

$311,026 or more

37%

$83,653.75 plus 37% of the amount over $311,025 

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2020 Federal Tax Brackets & Rates for head of houshold

2020 Federal Tax Brackets and Rates for Head of Household

$0 to $14,100

10%

10% of taxable income 

$14,101 to $53,700

12%

$1,410 plus 12% of the amount over $14,100 

$53,701 to $85,500

22%

$6,162 plus 22% of the amount over $53,700 

$85,501 to $163,300

24%

$13,158 plus 24% of the amount over $85,500 

$163,301 to $207,350

32%

$31,830 plus 32% of the amount over $163,300 

$207,351 to $518,400

35%

$45,926 plus 35% of the amount over $207,350 

$518,401 or more

37%

$154,793.50 plus 37% of the amount over $518,400 

2020 Capital Gains Tax Rates single filers

2020 Capital Gains Tax Rates for Single Filers

$0 to $40,000

0%

$40,001 to $441,450

15%

$441,451 or more

20%

2020 Capital Gains Tax Rates for married and filing jointly

2020 Capital Gains Tax Rates for Married, Filing Jointly

$0 to $80,000

0%

$80,001 to $496,600

15%

$496,601 or more

20%

2020 Capital Gains Tax Rates for married, filing separate

2020 Capital Gains Tax Rates for Married, Filing Separately

$0 to $40,000

0%

$40,001 to $248,300

15%

$248,301 or more

20%

2020 Capital Gains Tax Rates for head of household

2020 Capital Gains Tax Rates for Head of Household

$0 to $53,600

0%

$53,601 to $469,050

15%

$469,051 or more

20%
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2020 Earned Income Tax Credit Parameters

2020 EIC for Single and Head of Household

Maximum Earned Income Credit

No Children

$538

Adjusted Gross Income at max credit:  $7,030. 

Phase-out Bracket: $8,790 - $15,820

One Child

$3,584

Adjusted Gross Income at max credit:  $10,540  

Phase-out Bracket:  $19,330  -  $41,756 

Two children

$5,920

Adjusted Gross Income at max credit:  $14,800 

Phase-out Bracket:   $19,330  -   $47,440  

Three or more Children

$6,660

 
Adjusted Gross Income at max credit:  $14,800 

Phase-out Bracket:  $19,330  -  $47,440
 

2020 EARNED INCOME TAX for married filing jointly

2020 EIC for Married, Filing Jointly

Maximum Earn Income Credit

No Children

$538

Adjusted Gross Income at max credit: $7,030

Phase-out Brackets:  $14,680 -  $21,710  

One Child

$3,584

Adjusted Gross Income at max credit: $10,540

Phase-out Brackets:  $25,220  -  $47,646  

Two children

$5,920

Adjusted Gross Income at max credit: $14,800

Phase-out Brackets:  $25,220  -  $53,330 

Three or more Children

$6,660

Adjusted Gross Income at max credit: $14,800

Phase-out Brackets:  $25,220  -  $56,844    

2020 Standard Deduction and Personal Exemption

2020 Standard Deduction and Personal Exemption

Single / Married, Filing Separately

$12,400

Married, Filing Jointly

$24,800

Head of Household

$18,650

Standard Deduction Increase

The Standard Deduction increased by $200 for single filers and $400 for married couples filing jointly. 

Personal Exemptions remained eliminated for 2020.

2020 child tax/dependent tax credit

2020 Child/Dependent Tax Credit

Tax Credit per qualifying child

$2,000

Dependent Credit for qualifying Dependents

$500

2020 Qualified Business income deduction threshold

2020 Qualified Business Income Deduction Threshold

Single Individuals

$163,300

Married Filing Jointly

$326,600
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