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Tax brackets for 2023 and 2024

Get better acquainted with the 2023 to 2024 tax brackets, the various filing statuses, and the difference between taking the standard and itemized deductions.

As you review the tables below, keep in mind that your tax brackets for 2023 and 2024 depend on your taxable income and filing status. It’s also important to note that the income limits were adjusted for inflation between 2023 and 2024 for all tax brackets and filing statuses.

Filing status and federal income tax rates – 2023 tax year 

Tax bracket

Single

Married filing jointly

Head of household

Married filing separately

10%

$0-$11,000

$0-$22,000

$0-$15,700

$0-$11,000

12%

$11,001-
$44,725 

$22,001-
$89,450 

$15,701-
$59,850 

$11,001-
$44,725 

22%

$44,726-
$95,375 

$89,451-
$190,750 

$59,851-
$95,350 

$44,726-
$95,375 

24%

$95,376- 

$182,100 

$190,751-
$364,200 

$95,351-
$182,100 

$95,376-
$182,100 

32%

$182,101- 

$231,250 

$364,201-
$462,500 

$182,101-
$231,250 

$182,101-
$231,250 

35%

$231,251- 

$578,125 

$462,501-
$693,750 

$231,251-
$578,100 

$231,251-
$346,875 

37%

$578,126+ 

$693,751+ 

$578,101+ 

$346,876+  

 

Filing status and federal income tax rates – 2024 tax year

Tax bracket

Single

Married filing jointly

Head of household

Married filing separately

 

10%

$0 - $11,600

$0 - $23,200

 $0 - $16,550 $0 - $11,600

 

12%

 $11,601 - $47,150 $23,201 - $94,300 $16,550 - $63,100 $11,601 - $47,150

 

22%

 $47,151 - $100,525 $94,301 - $201,050 $63,100 - $100,500 $47,151 - $100,525

24%

 $100,526 - $191,950 $201,051 - $383,900 $100,500 - $191,950 $100,526 -$191,950

32%

 $191,951 - $243,725 $383,901 - $487,450 $191,950 - $243,700 $191,951 - $243,725

35%

 $243,726 - $609,350 $487,451 - $731,200 $243,700 - $609,350 $243,726 - $365,600

37%

 $609,351+ $731,201+ $609,350+ $365,601+

 

 

Filing statuses and definitions

Single

You’re either not married or you are legally separated as of Dec. 31 of the filing year AND you don't qualify as a head of household or surviving spouse.

Married filing jointly

You’re married on Dec. 31, and you and your spouse file a joint return together. This status can be available if one spouse died during the year and you did not remarry in the same year.

 

You may also file jointly if you were married at the end of the year and your spouse died before the return was filed.

Married filing separately

You’re married but you do not file a joint return with your spouse, and instead you both file separately. You generally report only your own income, deductions, and credits, and are responsible only for the tax on your own income. State rules may vary.

 

You may pay more tax than if you use another filing status for which you qualify. Deductions and credits may be limited.

Head of household
  • You’re not married and not a surviving spouse as of Dec. 31 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 more than 50% of the year.

Qualifying widow or widower with a dependent child (Surviving Spouse Filing Status)
  • Your spouse must have died sometime in the previous two tax years AND
  • You must have been qualified to file jointly with them AND
  • You’re not remarried 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 you claim the standard deduction or itemize your 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 that indicates how much you’ll be able to reduce your adjusted gross income to determine your taxable income by when you calculate your taxes.

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

  • An amount of state and local taxes, including property taxes*

*Subject to $10,000 cap, $5000 for married filing separately

  • Mortgage interest*
  • Charitable contributions*
  • Medical expenses (that exceed 7.5% of adjusted gross income)

*Other limitations may apply.

Standard deduction amounts – 2023 and 2024 tax year

  2022 2023

Single

 $13,850 $14,600

Married, filing jointly or surviving spouse

 $27,700  $29,200

Head of household

 $20,800     $21,900

Married, filing separately

 $13,850 $14,600
You may be eligible for an additional amount if you are 65 or older, or blind.
 

For the most accurate and updated information about tax brackets for 2023-2024, filing statuses and deductions, it’s advisable to seek advice from a certified tax professional. Certified tax professionals have extensive knowledge of current tax laws and regulations, enabling them to provide tailored guidance based on individual financial situations. When navigating the intricacies of 2023 to 2024 tax brackets, an Ameriprise financial advisor can help you determine an appropriate tax planning strategy for you.

Related information

Important tax deadlines

Review these important tax deadlines to help you plan accordingly.

Marginal tax rate calculator

Understanding your marginal tax rate can help you plan accordingly for the current tax year. Use this calculator to determine your tax rate based on income.

Ameriprise tax resource center

From tax calculators and filing information to a range of tax resources, our online tax center provides help and answers to common tax questions.

Our advisors partner with your tax professional to help determine an appropriate approach to tax strategies.

Or, request an appointment online to speak with an advisor.

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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.
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