Mark Stevens, CFP®
mark@wealthcarenetwork.org
 
 




Qualified charitable distributions (QCDs)

Qualified charitable distributions (QCDs) are distributions made directly from an IRA to a qualified charity. Such distributions may be excluded from income and count toward satisfying any required minimum distributions (RMDs) you would otherwise have to receive from your IRA. Individuals age 70½ and older can make up to $100,000 in QCDs per year.

 

Income Tax Key Numbers

Alternative minimum tax (AMT)20172018
Maximum AMT exemption amount$84,500 (MFJ), $54,300 (Single/HOH), $42,250 (MFS)$109,400 (MFJ), $70,300 (Single/HOH), $54,700 (MFS)
Exemption phaseout threshold$160,900 (MFJ), $120,700 (Single/HOH), $80,450 (MFS)$1,000,000 (MFJ), $500,000 (Single/HOH/MFS)
26% rate applies to AMT income (AMTI) at or below this amount (28% rate applies to AMTI above this amount)$187,800 (MFJ/Single/HOH), $93,900 (MFS)$191,100 (MFJ/Single/HOH), $95,550 (MFS)
Exemptions/itemized deductions20172018
Personal & dependency exemptions$4,050No personal exemption
Phaseout threshold for exemptions and itemized deductions$313,800 (MFJ), $287,650 (HOH), $261,500 (Single), $156,900 (MFS)Phaseout does not apply
Standard deduction20172018
Standard deduction amount$12,700 (MFJ), $9,350 (HOH), $6,350 (Single), $6,350 (MFS)$24,000 (MFJ), $18,000 (HOH), $12,000 (Single), $12,000 (MFS)
Standard deduction for dependentGreater of $1,050 or $350 + earned incomeGreater of $1,050 or $350 + earned income
Additional deduction for aged/blind$1,550 (Single/HOH), $1,250 (MFJ/MFS)$1,600 (Single/HOH), $1,300 (MFJ/MFS)
Top tax brackets20172018
Single39.6% of taxable income exceeding $418,400 + $121,505.2537% of taxable income exceeding $500,000 + $150,689.50
MFJ39.6% of taxable income exceeding $470,700 + $131,62837% of taxable income exceeding $600,000 + $161,379
MFS39.6% of taxable income exceeding $235,350 + $65,81437% of taxable income exceeding $300,000 + $80,689.50
HOH39.6% of taxable income exceeding $444,550 + $126,95037% of taxable income exceeding $500,000 + $149,298
Top capital gain tax rate (20%) thresholds20172018
Single$418,400$425,800
MFJ $470,700 $479,000
MFS $235,350 $239,500
HOH $444,550 $452,400
Unearned income Medicare contribution tax (Net investment income tax)20172018
Amount of tax3.80%3.80%
Applies to lesser of (a) net investment income or (b) modified adjusted gross income exceeding:
Individuals$200,000$200,000
Married filing jointly$250,000$250,000
Married filing separately$125,000$125,000
Standard mileage rates20172018
Use of auto for business purposes (cents per mile)$0.535$0.545
Use of auto for medical purposes (cents per mile)$0.17$0.18
Use of auto for moving purposes (cents per mile)$0.17$0.18
Use of auto for charitable purposes (cents per mile)$0.14$0.14



This communication is strictly intended for individuals residing in the state(s) of GA. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2018.