2019 Tax Fast Facts

Federal Income Tax Rates For 2019

Married Filing Jointly

Taxable Income Tax Rate
$0 to $19,400 10%
$19,401 to $78,950 12%
$78,951 to $168,400 22%
$168,401 to $321,450 24%
$321,451 to $408,200
32%
$408,201 to $612,350 35%
More than $612,350 37%

Single

Taxable Income Tax Rate
$0 to $9,700 10%
$9,701 to $39,475 12%
$39,476 to $84,200 22%
$84,201 to $160,725 24%
$160,726 to $204,100 32%
$204,101 to $510,300 35%
More than $510,300 37%

Capital Gain Tax Rates for 2019

Tax Bracket Short Term Asset Holding Period
10% 10%
12% 12%
22% 22%
24% 24%
32% 32%
35% 35%
37% 37%
 
Long Term Rate Married Filing Jointly* Single*
0% $0 to $78,750 $0 to $39,375
15% $78,751 to $488,850 $39,376 to $434,550
20% More than $488,850 More than $434, 550
 

Estate and Gift Tax Exemptions for 2019

  • Estate Tax Exempt Amount: $11.40 Million*
  • Gift Tax Exempt Amount: $11.40 Million*
  • Gift Tax Annual Exclusion Amount: $15,000*

* Could increase due to inflation adjustment. Source: Internal Revenue Service

Traditional and Roth IRA Limits for 2019

The amount you can contribute to all of your Traditional and Roth IRAs combined is 100% of your taxable compensation1, up to a maximum of:

If you are under age 50 $6,000
If you are age 50 or older $7,000

1Exception for Married Filing Jointly: An employed spouse may contribute to a separate IRA on behalf of a spouse who has little or no income. The amount of the couple’s combined contributions can’t be more than the taxable compensation reported on their joint return. For more information, refer to Spousal IRA sections in IRS Publication 590-A.

Deductible Traditional IRA Phaseouts

Deductibility depends on MAGI and whether you or your spouse is covered by an employer-sponsored retirement plan. You must figure your deduction and your spouse's deduction separately. The deduction for contributions to traditional IRAs phases out over the following MAGI levels:

Covered by employer plan and:

Filing Status AGI Level
Single $64,000-$74,000
Married filing jointly $103,000-$123,000

Not Covered by employer plan and:

Filing Status AGI Level
Single or married filing jointly with a spouse who also is not covered No Limit
Married filing jointly with a spouse who is covered $193,000-$203,000


There is no income limit for contributions to a non-deductible Traditional IRA.

Roth IRA Eligibility Phaseouts

Eligibility for Roth IRAs is phased out over the following MAGI levels:

Filing Status AGI Level
Single $122,000-$137,000
Married filing jointly $193,000-$203,000
Married filing separately $0-$10,000
 

Maximum Retirement Plan Contributions

The amount you can contribute to an employer-sponsored retirement plan generally is the lesser of 100% of your salary or:

Type of Plan Maximum Amount
401(k) and 403(b) $19,000
SIMPLE-IRA $13,000
401(k) and 403(b) Catch-up contributions3 $6,000
SIMPLE-IRA Catch-up contributions3 $3,000


3 Age 50 or older.

IRS Circular 230 Disclosure: American Century Companies, Inc. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with American Century Companies, Inc. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.

This information is for educational purposes only and is not intended as tax advice. Please consult your tax advisor for more detailed information or for advice regarding your individual situation.

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