Table 8.1 2021 Marginal Tax Rates and Standard Deductions Unmarried, divorced, or legally separated Married and each partner files a separate tax return Married and both Unmarried and paying mare partners file a single tax return than half the cost of supporting a child or parent Married Filing Tax Rate Single Separately 10% up to $9950 up to $9950 up to $19,900 Married Filing Jointly Head of Household up to $14,200 12% $9951 to $40,525 $9951 to $40,525 $19,901 to $81,050 $14,201 to $54,200 22% $40,526 to $86,375 $40,526 to $86,375 $81,051 to $172,750 $54,201 to $86,350 24% $86,376 to $164,925 $86,376 to $164,925 $172,751 to $329,850 $86,351 to $164,900 32% $164,926 to $209,425 $164,926 to $209,425 $329,851 to $418,850 $164,901 to $209,400 35% $209,426 to $523,600 $209,426 to $314,150 $418,851 to $628,300 $209,401 to $523,600 37% more than $523,600 more than $314,150 more than $628,300 more than $523,600 Standard Deduction $12,550 $12,550 $25,100 $18,800
Table 8.1 2021 Marginal Tax Rates and Standard Deductions Unmarried, divorced, or legally separated Married and each partner files a separate tax return Married and both Unmarried and paying mare partners file a single tax return than half the cost of supporting a child or parent Married Filing Tax Rate Single Separately 10% up to $9950 up to $9950 up to $19,900 Married Filing Jointly Head of Household up to $14,200 12% $9951 to $40,525 $9951 to $40,525 $19,901 to $81,050 $14,201 to $54,200 22% $40,526 to $86,375 $40,526 to $86,375 $81,051 to $172,750 $54,201 to $86,350 24% $86,376 to $164,925 $86,376 to $164,925 $172,751 to $329,850 $86,351 to $164,900 32% $164,926 to $209,425 $164,926 to $209,425 $329,851 to $418,850 $164,901 to $209,400 35% $209,426 to $523,600 $209,426 to $314,150 $418,851 to $628,300 $209,401 to $523,600 37% more than $523,600 more than $314,150 more than $628,300 more than $523,600 Standard Deduction $12,550 $12,550 $25,100 $18,800
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Unmarried head of household with two dependent children
Gross Income: $70,000
Adjustments: $2,000
Deductions:
$10,000 mortgage interest
$2500 property taxes
$1200 charitable contributions
Tax Credit: None
I. Find the Adjusted Gross Income.
II. Find the Taxable Income.
III. Find the tax owed
![Table 8.1 2021 Marginal Tax Rates and Standard Deductions
Unmarried,
divorced, or
legally separated
Married and each
partner files a
separate tax return
Married and both
Unmarried and paying mare
partners file a
single tax return
than half the cost of
supporting a child or parent
Married Filing
Tax Rate
Single
Separately
10%
up to $9950
up to $9950
up to $19,900
Married
Filing Jointly
Head of
Household
up to $14,200
12%
$9951 to $40,525
$9951 to $40,525
$19,901 to $81,050
$14,201 to $54,200
22%
$40,526 to $86,375
$40,526 to $86,375
$81,051 to $172,750
$54,201 to $86,350
24%
$86,376 to $164,925
$86,376 to $164,925
$172,751 to $329,850
$86,351 to $164,900
32%
$164,926 to $209,425
$164,926 to $209,425
$329,851 to $418,850
$164,901 to $209,400
35%
$209,426 to $523,600
$209,426 to $314,150
$418,851 to $628,300
$209,401 to $523,600
37%
more than $523,600
more than $314,150
more than $628,300
more than $523,600
Standard
Deduction
$12,550
$12,550
$25,100
$18,800](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1cdc136d-93ff-4d4c-b8e2-f2c1b9882c0e%2F83b39ee9-8a5d-46ce-a78d-47b5661b311b%2Fgmbnvwn_processed.png&w=3840&q=75)
Transcribed Image Text:Table 8.1 2021 Marginal Tax Rates and Standard Deductions
Unmarried,
divorced, or
legally separated
Married and each
partner files a
separate tax return
Married and both
Unmarried and paying mare
partners file a
single tax return
than half the cost of
supporting a child or parent
Married Filing
Tax Rate
Single
Separately
10%
up to $9950
up to $9950
up to $19,900
Married
Filing Jointly
Head of
Household
up to $14,200
12%
$9951 to $40,525
$9951 to $40,525
$19,901 to $81,050
$14,201 to $54,200
22%
$40,526 to $86,375
$40,526 to $86,375
$81,051 to $172,750
$54,201 to $86,350
24%
$86,376 to $164,925
$86,376 to $164,925
$172,751 to $329,850
$86,351 to $164,900
32%
$164,926 to $209,425
$164,926 to $209,425
$329,851 to $418,850
$164,901 to $209,400
35%
$209,426 to $523,600
$209,426 to $314,150
$418,851 to $628,300
$209,401 to $523,600
37%
more than $523,600
more than $314,150
more than $628,300
more than $523,600
Standard
Deduction
$12,550
$12,550
$25,100
$18,800
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