Alternative Minimum Tax (AMT)
| 2024 | 2025 | |
| Maximum AMT exemption amount | $133,300 (MFJ), $85,700 (Single/HOH), $66,650 (MFS) | $137,000 (MFJ), $88,100 (Single/HOH), $68,500 (MFS) |
| Exemption phaseout threshold | $1,218,700 (MFJ), $609,350 (Single/HOH/MFS) | $1,252,700 (MFJ), $626,350 (Single/HOH/MFS) |
| 26% rate applies to AMT income (AMTI) at or below this amount (28% rate applies to AMTI above this amount) | $232,600 (MFJ/Single/HOH), $116,300 (MFS) | $239,100 (MFJ/Single/HOH), $119,550 (MFS) |
Standard Deduction
| 2024 | 2025 | |
| Standard deduction amount | $29,200 (MFJ), $21,900 (HOH), $14,600 (Single), $14,600 (MFS) | $31,500 (MFJ), $23,625 (HOH), $15,750 (Single), $15,750 (MFS) |
| Standard deduction for dependent | Can’t exceed the greater of $1,300 or $450 + earned income | Can’t exceed the greater of $1,350 or $450 + earned income |
| Additional deduction for aged/blind | $1,950 (Single/HOH), $1,550 (MFJ/MFS) | $2,000 (Single/HOH), $1,600 (MFJ/MFS) |
Deductions Introduced by the One Big Beautiful Bill Act of 2025
| 2024 | 2025 | Income Phaseout Threshold | |
| NEW Deduction for seniors (qualifying individuals age 65 or older) | N/A | $6,000 | $75,000 ($150,000 married filing jointly) |
| NEW Deduction for tip income | N/A | Up to $25,000 | $150,000 ($300,000 married filing jointly) |
| NEW Deduction for overtime compensation | N/A | Up to $12,500 ($25,000 if married filing jointly) | $150,000 ($300,000 married filing jointly) |
Top Tax Brackets
| 2024 | 2025 | |
| Single | 37% of taxable income exceeding $609,350 + $183,647.25 | 37% of taxable income exceeding $626,350 + $188,769.75 |
| MFJ | 37% of taxable income exceeding $731,200 + $196,669.50 | 37% of taxable income exceeding $751,600 + $202,154.50 |
| MFS | 37% of taxable income exceeding $365,600 + $98,334.75 | 37% of taxable income exceeding $375,800 + $101,077.25 |
| HOH | 37% of taxable income exceeding $609,350 + $181,954.50 | 37% of taxable income exceeding $626,350 + $187,031.50 |
Top Capital Gain Tax Rate (20%) Thresholds
| 2024 | 2025 | |
| Single | $518,000 | $533,400 |
| MFJ | $583,750 | $600,050 |
| MFS | $291,850 | $300,000 |
| HOH | $551,350 | $566,700 |
Unearned Income Medicare Contribution Tax (Net Investment Income Tax)
| 2024 | 2025 | |
| 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
| 2024 | 2025 | |
| Use of auto for business purposes (cents per mile) | $0.67 | $0.70 |
| Use of auto for medical purposes (cents per mile) | $0.21 | $0.21 |
| Use of auto for moving purposes (cents per mile) | $0.21 | $0.21 |
| Use of auto for charitable purposes (cents per mile) | $0.14 | $.014 |
This content has been reviewed by FINRA.
Prepared by Broadridge Advisor Solutions. © 2025 Broadridge Financial Services, Inc.