Tax Tables 2022 Edition
1
TAXABLE INCOME ($)
BASE
AMOUNT OF
TAX ($)
PLUS
MARGINAL
TAX
RATE
OF THE
AMOUNT
OVER ($)
OVER
NOT OVER
SINGLE
$0
$10,275
$0
+
10.0
$
0
$10,275
$41,775
$1,027.50
+ 12
.0
$10,275
$41,775
$89,075
$4,807.50
+ 22
.0
$41,775
$89,075
$170,050
$15,213.50
+ 24
.0
$89,075
$170,050
$215,950
$34,647.50
+ 32
.0
$170,050
$215,950
$539,950
$49,335.50
+
35.0
$215,950
$539,900
$162,718
+ 37.
0
$539,900
HEAD OF HOUSEHOLD
$0
$14,650
$0
+
10.0
$0
$14,650
$55,900
$1,465
+ 12
.0
$14,650
$55,900
$89,050
$6,415
+ 22
.0
$55,900
$89,050
$170,050
$13,708
+ 24
.0
$89,050
$170,050
$215,950
$33,148
+ 32
.0
$170,050
$215,950
$539,900
$47,836
+
35.0
$215,950
$539,900
$161,218.50
+ 37.
0
$539,900
MARRIED FILING JOINTLY AND SURVIVING SPOUSES
$0
$20,550
$0
+
10.0
$0
$20,550
$83,550
$2,055
+ 12
.0
$20,550
$83,550
$178,150
$9,615
+ 22
.0
$83,550
$178,150
$340,100
$30,427
+ 24
.0
$178,150
$340,100
$431,900
$69,295
+ 32
.0
$340,100
$431,900
$647,850
$98,671
+
35.0
$431,900
$647,850
$174,253.50
+ 37.
0
$647,850
MARRIED FILING SEPARATELY
$0
$10,275
$0
+
10.0
$0
$10,275
$41,775
$1,027.50
+ 12
.0
$10,275
$41,775
$89,075
$4,807.50
+ 22
.0
$41,775
$89,075
$170,050
$15,213.50
+ 24
.0
$89,075
$170,050
$215,950
$34,647.50
+ 32
.0
$170,050
$215,950
$323,925
$49,335.50
+
35.0
$215,950
$323,925
$87,126.75
+ 37.
0
$323,925
ESTATES AND TRUSTS
$0
$2,750
$0
+ 10
.0
$0
$2,750
$9,850
$275
+ 24
.0
$2,750
$9,850
$13,450
$1,979
+ 35
.0
$9,850
$13,450
$3,239
+ 37
.0
$13,450
Kiddie Tax
: all net unearned income over a threshold amount of $2,300 for 2022 is
taxed using the brackets and rates of the child’s parents
2022 Tax Rate Schedule Standard Deductions & Personal Exemption
FILING STATUS
STANDARD
DEDUCTION
PERSONAL
EXEMPTION
PHASEOUTS
BEGIN AT AGI OF:
Single
$
12,950
N/A
N/A
H
ead of household $
19,400
N/A
N/A
Married,
filing jointly and
qualifying wid
ow(er)s
$25,9
00
N/A
N/A
Married,
filing separately $
12,950
N/A
N/A
Dependent
filing own tax ret
urn
$1,15
0*
N/A
N/A
DEDUCTIONS FOR NON-ITEMIZERS
Blind
or over 65 Married Filing Jointly Add $1,40
0
Blind
or over 65 and unmarried and not a surviving spouse Add $1,75
0
Net Investment Income Tax
Alternative Minimum Tax
EXEMPTION AMOUNTS AND PHASEOUTS
EXEMPTION
AMOUNT/
PHASEOUT AMOUNT BEGINS AT:
Single
$75,900
/ $539,900
Married,
filing jointly or surviving spouses $118,100
/ $1,079,800
Married,
filing separately $59,050
/ $539,900
Es
tates and trusts $26,500
/ $88,300
AMT TAX RATES
Tax Deadlines
Jan
18, 2022 – 4
th
installment deadline to pay 2021 estimated taxes due
April 18, 2022
– Last day to file amended return for 2
018 (subject to limited exceptions); Last day to contribute to
most employer
-sponsored retirement plans, including SEPs and profit-sharing plans for 2021 if the federal income
tax return deadline for the business that maintains such
plans is April 18, 2022 (unless the federal income tax return
filing deadline for the business has been extended). Tax filing deadline to request an extension until Oct. 17, 2022,
for businesses whose tax return deadline is April 18, 2022. 1
st
installment deadline to pay 2022 estimated taxes due.
Last day
to file federal income tax returns for individuals. Tax filing deadline to request an extension until
Oct. 17,
2022 for individuals whose tax return deadline is April 18, 2022. Last day to contribute to Roth or
traditional IRA
or HSA for 2021. Note: Kentucky, Illinois, and Tennessee tornado victims have until May 16, 2022 to
file 2021 individual income tax returns, as well as various 2021 business returns.
June 15, 2022
– 2
nd
installment deadline to pay 2022 estimated taxes due
Sep
15, 2022 – 3
rd
installment deadline to pay 2022 estimated taxes due
Oc
t 17, 2022 – Last day to file federal income tax return if 6-month extension was requested by April 18, 2022.
Last day to recharacterize an eligible Traditional IRA or Roth IRA contribution from 2021 if extension
was filed or tax return was filed by April 18, 2022 (and certain conditions were met). Last day to
contribute to most employer
-sponsored retirement plans, including SEPs and profit-sharing plans for
2021 if the federal income tax return deadline for the business that maintains
such plans is April 18,
2022, and federal income tax return extension was filed for such business.
De
c 31, 2022 – Last day to: 1) pay expenses for itemized deductions for 2022; 2) complete
transactions for capital gains or losses.
Note: last 2022 trade date is December 30.
Gift
tax annual exclusion
$16,000
Es
tate, gift & generation skipping transfer tax exclusion
amount (per
taxpayer)
$12,060
,000
E
xclusion on gifts to non-citizen spouse $164
,000
Maximum
estate,gift & generation skipping transfer tax rate
40%
Gift and Estate Tax Exclusions and Credits
Child Tax Credit
*Subject to eligibility requirements
MARRIED FILING
SEPARATELY
ALL OTHERS
26% tax rate applies to income at or
below:
$103,050 $206,100
28% tax rate applies to income over:
3.8%
tax on the lesser of: (1) Net Investment Income, or (2) MAGI in excess of
$200,000 for single filers or head of households, $250,000 for married couples filing
jointly, and $125,000 for married couples filing separately.
Tax Rates on Long-Term Capital Gains and Qualified Dividends
TAXABLE INCOME
LTCG TAX
SINGLE
FILERS
MARRIED
FILING
JOINTLY
HEAD OF
HOUSEHOLD
MARRIED
FILING
SEPARATELY
0% $0 – $41,675 $0 – $83,350 $0 – $55,800 $0 – $41,675
15%
$41,676 –
$459,750
$83,351 –
$517,200
$55,801 –
$488,500
$41,676 –
$258,600
20%
$459,751 or more
$517,201 or more
$488,501 or more
$258,601 or more
*For taxable years beginning in 2022, the standard deduction amount under § 63(c)(5) for an individual
who may be claimed as a dependent by another taxpayer cannot exceed the greater of (1) $1,150, or (2)
the sum of $400 and the individual's earned income.
C
REDIT
MAXIMUM
CREDIT
IN
COME PHASEOUTS BEGIN AT
M
AGI OF:
Child Tax
Credit*
$2,
000 per qualifying
child
$400,000
– married filing jointly
$200,000
– all others
2
Tax Tables 2022 Edition
Social Security
© 2021 Morgan Stanley Smith Barney LLC, Member SIPC.
Deductibility of Long-Term Care Premiums on Qualified Policies
A
TTAINED AGE BEFORE CLOSE
O
F TAX YEAR
AMOUNT OF LTC PREMIUMS THAT QUALIFY AS MEDICAL
EXPENSES IN 2022
40
or less $450
41
to 50 $850
51
to 60 $1,690
6
1 to 70 $4,510
O
ver 70 $5,640
FILING STATUS
PROVISIONAL
INCOME
AMOUNT
OF SS
SUBJECT TO TAXES
T
AX ON SOCIAL SECURITY BENEFITS: INCOME BRACKETS
Single,
head of household, qualifying
wid
ow(er), married filing separately and
living
apart from spouse
Under
$25,000
0
$25,000
– $34,000
up
to 50%
O
ver $34,000
up
to 85%
Married
filing jointly
Unde
r $32,000
0
$32,000
– $44,000
up
to 50%
O
ver $44,000
up
to 85%
Married
filing separately and
living
with spouse
O
ver $0
up
to 85%
SS TAX PAID ON INCOME UP TO $147,000
PERCENTAGE
WITHHELD
MAXIMUM TAX
PAYABLE
T
ax (FICA)
Empl
oyer pays
6.2%
$
9,114.00
Empl
oyee pays
6.2%
$9,114.00
Sel
f-employed pays
12.4%
$18,228.00
FICA
Before Full Retirement Age (FRA)
$19,560
During the year in which FRA is reached
$51,960
After FRA
No
limit after FRA
Health Savings Accounts*
ANNUAL LIMIT
MAXIMUM CONTRIBUTION
Self
-Only HDHP Coverage $3,65
0
Family HDHP Coverage
$7,30
0
Ca
tch-up for 55 and older by end of calendar year
$1,000
C
REDIT /
EXCLUSION
MAXIMUM
CREDIT /
EXCLUSION
IN
COME PHASEOUTS
AT
MAGI OF:
Ameri
can Opportunity
T
ax Credit/Hope
$2,500
credit
$160,000
– $180,000 joint
$80,000
– $90,000 all others
Li
fetime Learning Credit
$2,000
credit
$1
60,000 – $180,000 joint
$
80,000 – $ 90,000 all other
s
Savings
bond
in
terest tax-free if
used
for education
Exclusion
limited to
amount
of qualified
e
xpenses
$1
28,650 – $158,650 joint
$
85,800 – $100,800 all
othe
rs
Education Credits & Exclusions
*HSAs are only available for taxpayers enrolled in a qualifying high-deductible health plan (HDHP)
Other Retirement Plans Contribution Limits
RETIREMENT
PLAN TYPE
MAX.
CONTRIBUTION
LIMIT
CATCH
-
UP
(50+)
INCOME RESTRICTIONS ON
CONTRIBUTIONS
SEP IRA
The lesser of
25% of
compensation or
$61,000
N/A
Employer contributions cannot
take into account compensation
in excess of $305,000
SIMPLE
IRA $14,000 $3,000
No limit except
for the 2% non-
elective contributions capped at
$305,000
Defined Benefit
Plan
$245,000 N/A
Capped at $305,000, or lower
limit defined in the plan
401(k)
$20,500 $6,500
Employer contributions cannot
take into account compensation
in excess of $305,000
403(b), 457(b),
Roth 401(k)
$20,500 $6,500
Employer contributions cannot
take into account compensation
in excess of $305,000
AGE WHEN BENEFITS BEGIN
PERCENTAGE OF SOCIAL SECURITY BENEFITS
FRA of 66* FRA of 67*
62 75.0% 70.0%
63 80.0% 75.0%
64 86.7% 80.0%
65 93.3% 86.7%
66 100.0% 93.3%
67 100.0% 100.0%
Reduction of Social Security Benefits Before Full Retirement Age
*Full retirement age determined by year of birth: Source SSA.Gov
Retirement Earnings Exempt Amounts
SS
TAX PAID ON INCOME
PERCENTAGE WITHHELD
Empl
oyer pays
1.45%
Empl
oyee pays
1.45% + 0.9% on wages over
$200,000 (single) or $250,000 (joint)
Sel
f-employed pays
2.90% + 0.9% on self
-employment income over
$200,000 (single) or $250,000 (joint)
Medicare Tax
FILING STATUS MODIFIED AGI CONTRIBUTION
Single/HOH
covered by a
plan at work
$68,000 or Less
Fully
Deductible
$68,001
– $77,999
Partially
Deductible
$78,000 or More
Not
Deductible
Married Filing Jointly
and
covered by a plan at work
$109,000 or Less
Fully
Deductible
$109,001
– $128,999
Partially
Deductible
$129,000 or
More
Not
Deductible
Married Filing Jointly
not
covered by a plan at work
and spouse is covered by a
plan at work
$204,000 or Less
Fully
Deductible
$204,001
– $213,999
Partially
Deductible
$214,000
or More
Not
Deductible
Married Filing
Separately
and
you or your spouse are
covered by plan at work
*
Less than $10,000
Partially
Deductible
$10,000
or More
Not
Deductible
Traditional IRA Deductibility Limits
If not covered by a plan, single, HOH and married filing jointly/separately (both spouses not covered
by a plan) tax filers are able to take a full deduction on their IRA contribution
*If spouses did not live together at any time during the year, their filing status is considered Single
for purposes of IRA deductions.
The max. contribution limit for IRAs is $6,000; the catch up at age 50+ is $1,000.
Allowable
Contribution
Modified Adjusted Gross Income
Single/HOH
Married Filing
Jointly
Married Filing
Separately
Full ≤ $129,000 ≤ $204,000 N/A
Partial
$129,001 –
$143,999
$204,001 –
$213,999
$0 –
$9,999
None ≥ $144,000 ≥ $214,000 ≥ $10,000
The maximum contribution limit for IRAs is $6,000; the catch up at age 50+ is $1,000.
Roth IRAs Contribution Limits
*Roth conversion income is not included in Modified Adjusted Gross Income
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Stanley Smith Barney LLC does not guarantee their accuracy or completeness. The tax
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