2026 Standard Deduction by Filing Status
- Single / Married Filing Separately: $16,100
- Married Filing Jointly: $32,200
- Head of Household: $24,150
2026 Federal Tax Brackets
- 10%: up to $12,400 single / $24,800 married filing jointly
- 12%: over $12,400 single / $24,800 married filing jointly
- 22%: over $50,400 single / $100,800 married filing jointly
- 24%: over $105,700 single / $211,400 married filing jointly
- 32%: over $201,775 single / $403,550 married filing jointly
- 35%: over $256,225 single / $512,450 married filing jointly
- 37%: over $640,600 single / $768,700 married filing jointly
Standard Deduction vs. Itemizing
You take whichever is larger: the standard deduction or your total itemized deductions (mortgage interest, state and local taxes up to the SALT cap, charitable donations, and certain medical expenses). With the standard deduction now well above $16,000 for single filers, itemizing generally only makes sense if you have significant deductible expenses like mortgage interest or large charitable contributions.
Other Notable 2026 Figures
- Alternative Minimum Tax exemption: $90,100 single / $140,200 married filing jointly
- Annual gift tax exclusion: $19,000 per recipient
- Estate tax exclusion: $15,000,000
- EITC (three or more qualifying children): $8,231 maximum credit
Marginal vs. Effective Tax Rate
Tax brackets are marginal — only the income within each bracket is taxed at that bracket's rate, not your entire income. A single filer earning $60,000 doesn't pay 22% on all of it; the first $12,400 is taxed at 10%, the next portion at 12%, and only the amount over $50,400 is taxed at 22%. Your effective tax rate — total tax divided by total income — is always lower than your top marginal bracket.
This page is for educational purposes and isn't personalized tax advice. Tax rules, brackets, and deadlines are set annually by the IRS and subject to change — confirm current figures at irs.gov or with a tax professional before filing.