Indexed Tax Tables for 2022
The federal tables below include the values applicable when determining federal taxes for 2022. They are published in Revenue Procedure 2021-45.
Federal Income Tax Schedules
Schedule X: Single Individuals
| Taxable Income* | Tax | % on Excess |
|---|---|---|
| $0 | $0 | 10 |
| 10,275 | 1,027.50 | 12 |
| 41,775 | 4,807.50 | 22 |
| 89,075 | 15,213.50 | 24 |
| 170,050 | 34,647.50 | 32 |
| 215,950 | 49,335.50 | 35 |
| 539,900 | 162,718.00 | 37 |
* Taxable income is equal to gross income minus deductions.
Example: Joan Smith, a single individual, has gross income of $110,000 in 2022. She has no dependents and claims a standard deduction because she lacks sufficient itemized deductions. Her taxable income is $97,050: $110,000 - $12,950 standard deduction. Her tax is $17,127.50: $15,213.50 + .24 x ($97,050 - $89,075).
Schedule Y-1: Married Filing Jointly and Surviving Spouses
| Taxable Income* | Tax | % on Excess |
|---|---|---|
| $0 | $0 | 10 |
| 20,550 | 2,055 | 12 |
| 83,550 | 9,615 | 22 |
| 178,150 | 30,427 | 24 |
| 340,100 | 69,295 | 32 |
| 431,900 | 98,671 | 35 |
| 647,850 | 174,253.50 | 37 |
* Taxable income is equal to gross income minus deductions.
Example: John and Joan Smith, a married couple who file jointly, have gross income of $250,000 in 2022. They claim a standard deduction because they lack sufficient itemized deductions. Their taxable income is $224,100: $250,000 - $25,900 standard deduction. Their tax is $41,455: $30,427 + .24 x ($224,100 - $178,150).
Schedule Y-2: Married Individuals Filing Separately
| Taxable Income* | Tax | % on Excess |
|---|---|---|
| $0 | $0 | 10 |
| 10,275 | 1,027.50 | 12 |
| 41,775 | 4,807.50 | 22 |
| 89,075 | 15,213.50 | 24 |
| 170,050 | 34,647.50 | 32 |
| 215,950 | 49,335.50 | 35 |
| 323,925 | 87,126.75 | 37 |
* Taxable income is equal to gross income minus deductions.
Example: Joan Smith, who is married and files separately from her husband, has gross income of $120,000 in 2022. She has no dependents and claims a standard deduction because she lacks sufficient itemized deductions. Her taxable income is $107,050: $120,000 - $12,950 standard deduction. Her tax is $19,527: $15,213.50 + .24 x ($107,050 - $89,075).
Schedule Z: Heads of Households
| Taxable Income* | Tax | % on Excess |
|---|---|---|
| $0 | $0 | 10 |
| 14,650 | 1,465 | 12 |
| 55,900 | 6,415 | 22 |
| 89,050 | 13,708 | 24 |
| 170,050 | 33,148 | 32 |
| 215,950 | 47,836 | 35 |
| 539,900 | 161,218.50 | 37 |
* Taxable income is equal to gross income minus deductions.
Example: Joan Smith, who files as a head of household, has gross income of $120,000 in 2022. She has no dependents and claims a standard deduction because she lacks sufficient itemized deductions. Her taxable income is $100,600: $120,000 - $19,400 standard deduction. Her tax is $16,480: $13,708 + .24 x ($100,600 - $89,050).
Federal Income Tax Table: Estates and Trusts
| Taxable Income* | Tax | % on Excess |
|---|---|---|
| 0 | $0 | 10 |
| 2,750 | 275 | 24 |
| 9,850 | 1,979 | 35 |
| 13,450 | 3,239 | 37 |
* Taxable income is equal to gross income minus deductions.
Federal Income Tax Table: Estates and Trusts
January 1, 2022 - December 31, 2022
| Seller Had Owned the Asset for 1 Year or More | Taxpayer Filing Status | |||
|---|---|---|---|---|
| Single | Married Filing Jointly | Head of Household | Married Filing Separately | |
| 0% rate | <$41,675 | <$83,350 | <$55,800 | <$41,675 |
| 15% rate | $41,675-$459,750 | $83,350-$517,200 | $55,800 -$488,500 | $41,675-$258,600 |
| 20% rate (a) | >$459,750 | >$517,200 | >$488,500 | >$258,600 |
| Seller Had Owned the Asset for Less than 1 Year | Seller pays same tax rate as on earned income. | |||
Note: The rate is 28% for long-term gains from sales of art works and other collectibles.
(a) Tax on capital gain will include the 3.8% net investment income tax when the seller's MAGI exceeds the applicable threshold. This tax is likely to apply to sellers in the 20% capital gain tax bracket, which would increase their effective rate to 23.8%.
Standard Deduction
| Married filing jointly and surviving spouses | Married filing separately | Head of household | Single |
|---|---|---|---|
| $25,900 | $12,950 | $19,400 | $12,950 |
Single filers age 65 or older who are not surviving spouses may increase their standard deduction by $1,700 and married filing jointly filers may increase their standard deduction by $1,350 for each spouse age 65 or older. The same increases are available for filers who are legally blind.
Unified Gift and Estate Tax Credit
| Amount of Credit | Amount of Exemption Equivalent |
|---|---|
| 4,769,800 | 12,060,000 |
Annual Gift Tax Exclusion
The federal annual gift tax exclusion equals $10,000 per person, indexed from 1998 and rounded down to the nearest $1,000. For 2022, the annual gift tax exclusion is $16,000.
Generation Skipping Tax Lifetime Exemption
The generation skipping tax lifetime exemption for 2022 is $12,060,000.
