Tax Projection Worksheet tax rates and inflation-adjusted amounts (1040)

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The standard deduction, exemption amount, and individual tax rate brackets are adjusted annually for cost-of-living increases. The following IRS-released adjustments are used by the Tax Projection Worksheet.

2018 tax rate tables

Table 1 - Married individuals filing joint returns and surviving spouses

If taxable income is over- But not over- Tax is- Plus Of the amount over-
$0.00 $19,050.00 $0.00 10.00% $0.00
$19,050.00 $77,400.00 $1,905.00 12.00% $19,050.00
$77,400.00 $165,000.00 $8,907.00 22.00% $77,400.00
$165,000.00 $315,000.00 $28,179.00 24.00% $165,000.00
$315,000.00 $400,000.00 $64,179.00 32.00% $315,000.00
$400,000.00 $600,000.00 $91,379.00 35.00% $400,000.00
$600,000.00 $161,379.00 37.00% $600,000.00

Table 2 - Heads of household

If taxable income is over- But not over- Tax is- Plus Of the amount over-
$0.00 $13,600.00 $0.00 10.00% $0.00
$13,600.00 $51,800.00 $1,360.00 12.00% $13,600.00
$51,800.00 $82,500.00 $5,944.00 22.00% $51,800.00
$82,500.00 $157,500.00 $12,698.00 24.00% $82,500.00
$157,500.00 $200,000.00 $30,698.00 32.00% $157,500.00
$200,000.00 $500,000.00 $44,298.00 35.00% $200,000.00
$500,000.00 $149,298.00 37.00% $500,000.00

Table 3 - Unmarried individuals other than surviving spouses and heads of household

If taxable income is over- But not over- Tax is- Plus Of the amount over-
$0.00 $9,525.00 $0.00 10.00% $0.00
$9,525.00 $38,700.00 $952.50 12.00% $9,525.00
$38,700.00 $82,500.00 $4,453.50 22.00% $38,700.00
$82,500.00 $157,500.00 $14,089.50 24.00% $82,500.00
$157,500.00 $200,000.00 $32,089.50 32.00% $157,500.00
$200,000.00 $500,000.00 $45,689.50 35.00% $200,000.00
$500,000.00 $150,689.50 37.00% $500,000.00

Table 4 - Married individuals filing separate returns

If taxable income is over- But not over- Tax is- Plus Of the amount over-
$0.00 $9,525.00 $0.00 10.00% $0.00
$9,525.00 $38,700.00 $952.50 12.00% $9,525.00
$38,700.00 $82,500.00 $4,453.50 22.00% $38,700.00
$82,500.00 $157,500.00 $14,089.50 24.00% $82,500.00
$157,500.00 $200,000.00 $32,089.50 32.00% $157,500.00
$200,000.00 $300,000.00 $45,689.50 35.00% $200,000.00
$300,000.00 $80,689.50 37.00% $300,000.00

Child tax credit

The value used in determining the additional child tax credit that may be refundable is $2,500.00. The maximum refundable credit per qualifying child is $1,400.00. 

Earned income credit

For 2018, the following values are used to project the earned income credit.

Item None One child Two children Three+ children
Earned Income Amount $6,800.00 $10,200.00 $14,320.00 $14,320.00
Max Credit $520.00 $3,468.00 $5,728.00 $6,444.00
Threshold Phaseout $8,510.00 $18,700.00 $18,700.00 $18,700.00
Completed Phaseout $15,310.00 $40,402.00 $45,898.00 $49,298.00
MFJ Threshold Phaseout $14,230.00 $24,390.00 $24,390.00 $24,390.00
MFJ Completed Phaseout $21,000.00 $46,092.00 $51,588.00 $54,988.00

Educator expenses

The 2018 maximum above-the-line educator expense deduction remains at $250.

Standard deduction

Filing status Deduction
Married filing jointly and surviving spouses $24,000
Head of household $18,000
Unmarried individuals (other than surviving spouses and heads of household) $12,000
Married filing separately $12,000

Aged and blind

For 2018, the additional standard deduction for the aged and blind is $1,300.00. If the individual is unmarried and not a surviving spouse, the amount is $1,600.00.

State and local tax deduction limited

For tax years beginning after December 31, 2017 and before January 1, 2026, the itemized deduction for state and local tax is limited to $10,000 ($5,000 for married filing separately). 

Itemized deduction limitation phaseout

For tax years beginning after December 31, 2017 and before January 1, 2026, the "Pease limitation" on itemized deductions is suspended.

Personal exemption

The personal exemption amount for tax years beginning after December 31, 2017 and before January 1, 2026 is reduced to zero.

Social Security Taxes

The maximum wage base for 2018 is $128,700. Self-employed individuals are subject to 12.4 percent on self-employment income up to the threshold.

AMT exemption

Filing status Exemption
Single or Head of household $70,300.00
Married filing jointly and surviving spouses $109,400.00
Married filing separately $54,700.00

AMT exemption phaseout

Filing status Phaseout
Married filing jointly and surviving spouses $100,000,000
Single or Head of household $500,000
Married filing separately $500,000

AMT excess taxable income above which 28% tax rate applies

Filing status AMTI
Married individuals filing separate returns $95,750.00
Joint returns, unmarried individuals $191,500.00

Additional AMTI for married filing separately

The additional amount is calculated when the Tax Projection Worksheet - Alternative Minimum Tax line 28 exceeds $718,800.00 (the 2017 amount is $249,450.00). The additional amount is calculated as 25% of the excess of the amount on line 28 over $718,800, not to exceed $54,700.

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