2024 Federal Tax Brackets

Complete guide to federal income tax rates for the 2024 tax year. Understand your marginal and effective tax rates.

2024 Standard Deductions

$14,600

Single

+$750 from 2023

$29,200

Married Filing Jointly

+$1,500 from 2023

$14,600

Married Filing Separately

+$750 from 2023

$21,900

Head of Household

+$1,100 from 2023

Federal Income Tax Rates

The U.S. uses a progressive tax system. You only pay each rate on the income that falls within that bracket, not your entire income.

Single Filers

Rate	Taxable Income	Tax Calculation
10%	$0 - $11,600	10% of taxable income
12%	$11,601 - $47,150	$1,160 + 12% of amount over $11,600
22%	$47,151 - $100,525	$5,426 + 22% of amount over $47,150
24%	$100,526 - $191,950	$17,168.50 + 24% of amount over $100,525
32%	$191,951 - $243,725	$39,110.50 + 32% of amount over $191,950
35%	$243,726 - $609,350	$55,678.50 + 35% of amount over $243,725
37%	$609,351+	$183,647.25 + 37% of amount over $609,350

Married Filing Jointly

Rate	Taxable Income	Tax Calculation
10%	$0 - $23,200	10% of taxable income
12%	$23,201 - $94,300	$2,320 + 12% of amount over $23,200
22%	$94,301 - $201,050	$10,852 + 22% of amount over $94,300
24%	$201,051 - $383,900	$34,337 + 24% of amount over $201,050
32%	$383,901 - $487,450	$78,221 + 32% of amount over $383,900
35%	$487,451 - $731,200	$111,357 + 35% of amount over $487,450
37%	$731,201+	$196,669.50 + 37% of amount over $731,200

Head of Household

Rate	Taxable Income	Tax Calculation
10%	$0 - $16,550	10% of taxable income
12%	$16,551 - $63,100	$1,655 + 12% of amount over $16,550
22%	$63,101 - $100,500	$7,241 + 22% of amount over $63,100
24%	$100,501 - $191,950	$15,469 + 24% of amount over $100,500
32%	$191,951 - $243,700	$37,417 + 32% of amount over $191,950
35%	$243,701 - $609,350	$53,977 + 35% of amount over $243,700
37%	$609,351+	$181,954.50 + 37% of amount over $609,350

Long-Term Capital Gains Rates

Rate	Single	Married Filing Jointly
0%	$0 - $47,025	$0 - $94,050
15%	$47,026 - $518,900	$94,051 - $583,750
20%	$518,901+	$583,751+

Long-term capital gains apply to assets held more than one year. Short-term gains are taxed as ordinary income.

Additional Tax Information

FICA Tax

Social Security (6.2% up to $168,600) + Medicare (1.45%)

Additional Medicare Tax

0.9% on income over $200,000 (single) or $250,000 (married)

Net Investment Income Tax

3.8% on investment income for high earners

Alternative Minimum Tax

Exemption: $85,700 (single), $133,300 (married)

Marginal vs Effective Tax Rate

Marginal Tax Rate

Your marginal tax rate is the rate you pay on your last dollar of income. It's the highest tax bracket your income falls into.

Example: If you're single with $60,000 taxable income, your marginal rate is 22%—but you don't pay 22% on all $60,000.

Effective Tax Rate

Your effective tax rate is the average rate you pay across all your income. It's your total tax divided by your total income.

Example: With $60,000 taxable income, your federal tax is about $8,252—an effective rate of roughly 13.8%.

Calculate Your Tax Liability

Use our free tax calculator to see exactly how much you'll owe or get back.