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Tax brackets for 2021

There are seven federal tax brackets for the 2021 tax year.
Your bracket depends on your taxable income and filing status. 

Filing status and federal income tax rates 2021

It’s never too early to begin tax planning for the year ahead. Review the tax information below to become better acquainted with the 2021 tax brackets, the various filing statuses, and get information on standard deductions. It’s important to note that the income limits for all tax brackets and all filers were adjusted for inflation. Your trusted tax professional and an Ameriprise financial advisor can provide the appropriate guidance to ensure you’re on the right track.

Tax bracket

Single

Married filing jointly

Head of household

Married filing separately

10%

$0-$9,950

$0-$19,900

$0-$14,200

$0-$9,950

12%

$9,951

-$40,525

$19,901

-$81,050

$14,201

-$54,200

$9,951

-$40,525

22%

$40,526

-$86,375

$81,051

-$172,750

$54,201

-$86,350

$40,526

-$86,375

24%

$86,376–$164,925

$172,751–$329,850

$86,351–$164,900

$86,376–$164,925

32%

$164,926–$209,425

$329,851–$418,850

$164,901–$209,400

$164,926–$209,425

35%

$209,426–$523,600

$418,851–$628,300

$209,401–$523,600

$209,426–$314,150

37%

$523,601 or more

$628,301 or more

$523,601 or more

$314,150 or more

 

Please note: These tax brackets are used for 2021 estimates and planning for the year ahead. They are not used to calculate 2020 taxes.

Filing statuses and definitions
 

Single

You’re either not married or you are legally separated as of December 31st of the filing year.

Married filing jointly

You’re married, and you and your spouse file a joint return together.

Married filing separately

You’re married but you do not file a joint return with your spouse, and instead you both file separately.

Head of household

  • You’re not married as of December 31st of the filing year AND
  • You paid over 50% of expenses to run your household for the year AND
  • Someone who counts as a “qualifying” individual (such as your child, if they meet certain conditions) lived with you for 50% of the year.

Qualifying widow or widower with a dependent child

  • Your spouse must have died sometime in the previous 2 tax years AND
  • You must have been quali ed to file jointly with them AND
  • You’re not married AND
  • You paid over 50% of expenses to run your household for the tax year in question AND
  • Your dependent child lived with you during the tax year in question.

Standard deductions vs. Itemized deductions

Should I claim the standard deduction or itemize my deductions? If your itemized deductions equal more than the standard deduction, it may benefit you to itemize rather than claim the standard deduction.

Standard deductions

Itemized deductions

A fixed amount that is determined by your filing status (see numbers in chart) that indicates how much you’ll be able to reduce your taxable income by when you file.

As an alternative to the standard deduction, taxpayers can itemize certain approved expenses, such as:

  • Property taxes

  • Mortgage interest

  • Charitable contributions

  • Medical expenses

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.
Ameriprise Financial Services LLC. Member FINRA and SIPC.
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