Facts & Figures for 2021
Listed below are some important Facts & Figures for 2021. Hyperlinks on figures provide a view of historical figures. Use the quick links here to jump to the section you need:
Income tax
Social Security
Medicare
Retirement Accounts
Facts & Figures for 2020 (historical figures)
Income Tax
| 2021 Income Tax Rate Schedule | |||
| Single Filers | |||
| From | To | Rate | Minus |
| $0 | $9,950 | 10% | $0.00 |
| $9,951 | $40,525 | 12% | $199.00 |
| $40,526 | $86,375 | 22% | $4,251.50 |
| $86,376 | $164,925 | 24% | $5,979.00 |
| $164,926 | $209,425 | 32% | $19,173.00 |
| $209,426 | $523,600 | 35% | $25,455.75 |
| $523,601 | no limit | 37% | $35,927.75 |
| Married Filing Jointly or Qualifying Widow(er) | |||
| From | To | Rate | Minus |
| $0 | $19,900 | 10% | $0.00 |
| $19,901 | $81,050 | 12% | $398.00 |
| $81,051 | $172,750 | 22% | $8,503.00 |
| $172,751 | $329,850 | 24% | $11,958.00 |
| $329,851 | $418,850 | 32% | $38,346.00 |
| $418,851 | $628,300 | 35% | $50,911.50 |
| $628,301 | no limit | 37% | $63,477.50 |
| Married Filing Separately | |||
| From | To | Rate | Minus |
| $0 | $9,950 | 10% | $0.00 |
| $9,951 | $40,525 | 12% | $199.00 |
| $40,526 | $86,375 | 22% | $4,251.50 |
| $86,376 | $164,925 | 24% | $5,979.00 |
| $164,926 | $209,425 | 32% | $19,173.00 |
| $209,426 | $314,150 | 35% | $25,455.75 |
| $314,151 | no limit | 37% | $31,738.75 |
| Head of Household | |||
| From | To | Rate | Minus |
| $0 | $14,200 | 10% | $0.00 |
| $14,201 | $54,200 | 12% | $284.00 |
| $54,201 | $86,350 | 22% | $5,704.00 |
| $86,351 | $164,900 | 24% | $7,431.00 |
| $164,901 | $209,400 | 32% | $20,623.00 |
| $209,401 | $523,600 | 35% | $26,905.00 |
| $523,601 | no limit | 37% | $37,377.00 |
| Estates and Trusts | |||
| From | To | Rate | Minus |
| $0 | $2,650 | 10% | $0.00 |
| $2,651 | $9,550 | 24% | $371.00 |
| $9,551 | $13,050 | 35% | $1,421.50 |
| $13,051 | no limit | 37% | $1,682.50 |
| Long-Term Capital Gains and Qualifying Dividends | ||
| Single (taxable income) | ||
| From AGI | To AGI | LTCG Tax Rate |
| $0 | $40,400 | 0% |
| $40,401 | $445,850 | 15% |
| $445,851 | no limit | 20% |
| Married Filing Jointly (taxable income) | ||
| $0 | $80,800 | 0% |
| $80,801 | $501,600 | 15% |
| $501,601 | no limit | 20% |
| Head of Household | ||
| $0 | $54,100 | 0% |
| $54,101 | $473,750 | 15% |
| $473,751 | no limit | 20% |
| Married Filing Separately | ||
| $0 | $40,400 | 0% |
| $40,401 | $250,800 | 15% |
| $250,801 | no limit | 20% |
| Estates & Trusts | ||
| $0 | $2,700 | 0% |
| $2,701 | $13,250 | 15% |
| $13,251 | no limit | 20% |
| Net Investment Income Tax (NIIT) 3.8% tax on the lesser of Excess of MAGI over the following or Net Investment Income | |
| Single | $200,000 |
| Married Filing Jointly | $250,000 |
| Married Filing Separately | $125,000 |
| Standard Deductions | |
| Filing Status | Standard Deduction |
| Single | $12,550 |
| Married Filing Jointly | $25,100 |
| Qualifying Widow(er) | $25,100 |
| Married Filing Separately | $12,550 |
| Head of Household | $18,800 |
| Dependent | Greater of: $1,100 or $350 plus earned income |
| Additional Standard Deductions (add to the regular Standard Deduction) |
|
| Blind (MFJ, MFS or QW) | $1,350 |
| Over 65 (MFJ, MFS or QW) | $1,350 |
| Blind (single) | $1,700 |
| Over 65 (single) | $1,700 |
| Alternative Minimum Tax Exemptions | |
| Single | $73,600 |
| Married Filing Jointly | $114,600 |
| Surviving Spouse | $114,600 |
| Married Filing Separately | $57,300 |
| Estates and Trusts | $25,700 |
| AMT Rate of 28% applies to income over: | |
| Married Filing Separately | $99,950 |
| All other filing statuses | $199,900 |
| Exemption phase out begins at: | |
| Single | $523,600 |
| Married Filing Jointly | $1,047,200 |
| Surviving Spouse | $1,047,200 |
| Married Filing Separately | $523,600 |
| Estates and Trusts | $85,650 |
| Gift & Estate Tax Exclusions and Credits | |
| Estate Tax Exclusion | $11,700,000 |
| Gift and GST Tax Exclusion | $11,700,000 |
| Annual Gift Tax Exclusion | $15,000 |
| Maximum Estate, Gift and GST Tax Rate | 40% |
| Health Savings Accounts | |||
| Maximum Deductible Contribution | Expense Limit | Minimum Deductible | |
| Single (individual) | $3,600 | $7,000 | $1,400 |
| Family | $7,200 | $14,000 | $2,800 |
| Catch-up (age 55+) | $1,000 | ||
| Education Credits | ||
| Credit | Maximum Amount | Phaseouts begin at AGI of: |
| American Opportunity Tax Credit (Hope) | $2,500 | |
| Married Filing Jointly | $160,000 | |
| All other filing statuses | $80,000 | |
| Lifetime Learning Credit | $2,000 | |
| Married Filing Jointly | $118,000 | |
| All other filing statuses | $59,000 | |
Social Security
| Full Retirement Age | |
| Born in: | Full Retirement Age (FRA) is: |
| 1946-1954 | 66 |
| 1955 | 66y, 2m |
| 1956 | 66y, 4m |
| 1957 | 66y, 6m |
| 1958 | 66y, 8m |
| 1959 | 66y, 10m |
| 1960 or later | 67 |
| Social Security Maximum Taxable Earnings | ||
| 2021 | $142,800 | |
| Social Security Quarter of Credit | ||
| 2021 | $1,470 | |
| Social Security Benefits Taxation | ||
| Filing status | Provisional Income* | SS benefit included as taxable |
| Married Filing Jointly | less than $32,000 | 0% |
| $32,000 to $44,000 | up to 50% | |
| more than $44,000 | up to 85% | |
| Single, Head of Household, Qualifying Widow(er) | less than $25,000 | 0% |
| $25,000 to $34,000 | up to 50% | |
| more than $34,000 | up to 85% | |
| Married Filing Separately and not living with spouse | less than $25,000 | 0% |
| $25,000 to $34,000 | up to 50% | |
| more than $34,000 | up to 85% | |
| Married Filing Separately and living with spouse | more than $0 | 85% |
* Provisional income is the total of your taxable income except for Social Security benefits, plus tax-free income, plus 50% of your Social Security benefits.
| 2021 Earnings Limits | ||
| Before FRA | $18,960 | $1,580/mo |
| For every $2 over the limit, $1 in benefits is withheld | ||
| Year of FRA | $50,520 | $4,210/mo |
| For every $3 over the limit, $1 in benefits is withheld | ||
| After FRA | no limit | |
| Substantial Earnings | ||
| 2021 | $26,550 | |
| Bend Points for age 62 in 2021 | |
| Retirement Benefit PIA calculation (of AIME) | |
| 1st (x 90%) | $996 |
| 2nd (x 32%) | $6,002 |
| 3rd (x 15%) | $6,003+ |
| Family Maximum Benefit calculation (of PIA) | |
| 1st (x 150%) | $1,272 |
| 2nd (x 272%) | $1,837 |
| 3rd (x 134%) | $2,395 |
| 4th (x 175%) | $2,396+ |
Medicare
| Medicare Premiums | ||
| Part B | Part D | |
| Standard Premium | $148.50 | n/a |
| Hold harmless | n/a | n/a |
| IRMAA Premium Adjustments | ||
| Filing Status | Part B | Part D |
| Married Filing Jointly | ||
| <$176,001 | +$0 | +$0 |
| $176,001 to $222,000 | +$59.40 | +$12.30 |
| $222,001 to $276,000 | +$148.50 | +$31.80 |
| $276,001 to $330,000 | +$237.60 | +$51.20 |
| $330,001 to $750,000 | +$326.70 | +$70.70 |
| >$750,000 | +$356.40 | +$77.10 |
| Single | ||
| <$88,001 | +$0 | +$0 |
| $88,001 to $111,000 | +$59.40 | +$12.30 |
| $111,001 to $138,000 | +$148.50 | +$31.80 |
| $138,001 to $165,000 | +$237.60 | +$51.20 |
| $165,001 to $500,000 | +$326.70 | +$70.70 |
| >$500,000 | +$356.40 | +77.10 |
| Medicare Deductibles & Coinsurance | |
| Part A (per benefit period) | |
| Deductible | $1,484 |
| Coinsurance First 60 days | $0 |
| Day 61-90 (per day) | $371 |
| Day 91+ (per day) | $742 |
| Part B (per year) | $203 |
| Part D | $445 |
| First Tier | $4,130 |
| Second Tier (donut hole) |
$6,550 |
| Third Tier (catastrophic) |
above $6,550 |
Retirement Accounts
| Individual Retirement Arrangements (IRAs) | ||
| Traditional IRA | ||
| Limitations | Deductible Contribution | Deductible Catch-up Contribution (age 50+) |
| If Covered by Employer Plan (self) | ||
| Married Filing Jointly MAGI | ||
| <= $105,000 | $6,000 | $1,000 |
| $105,001 to $125,000 | Reduced by 30% for each dollar over $105,000 | Reduced by 5% for each dollar over $105,000 |
| >= $125,001 | only non-deductible contributions allowed, up to $6,000 | only non-deductible contributions allowed, up to $1,000 |
| Single MAGI | ||
| <= $66,000 | $6,000 | $1,000 |
| $66,001 to $76,000 | Reduced by 60% for each dollar over $66,000 | Reduced by 10% for each dollar over $66,000 |
| >= $76,001 | only non-deductible contributions allowed, up to $6,000 | only non-deductible contributions allowed, up to $1,000 |
| Married Filing Separately MAGI | ||
| <= $0 | $6,000 | $1,000 |
| $1 to $10,000 | reduced by 60% for each dollar over $0 | Reduced by 70% for each dollar over $0 |
| >= $10,000 | only non-deductible contributions allowed, up to $6,000 | only non-deductible contributions allowed, up to $1,000 |
| If spouse is covered by Employer Plan | ||
| Married Filing Jointly MAGI | ||
| <= $198,000 | $6,000 | $1,000 |
| $198,001 to $208,000 | reduced by 60% for each dollar over $198,000 | Reduced by 10% for each dollar over $198,000 |
| >= $208,001 | only non-deductible contributions allowed, up to $6,000 | only non-deductible contributions allowed, up to $1,000 |
| Roth IRA | ||
| Limitations | Contribution Limit | Catch-up Contribution Limit (age 50+) |
| Married Filing Jointly MAGI | ||
| <= $198,000 | $6,000 | $1,000 |
| $198,001 to $208,000 | reduced by 60% for each dollar over $198,000 | Reduced by 10% for each dollar over $198,000 |
| >= $208,001 | no Roth IRA contribution allowed | no Roth IRA contribution allowed |
| Single or Head of Household MAGI | ||
| <= $125,000 | $6,000 | $1,000 |
| $125,001 to $140,000 | Reduced by 40% for each dollar over $125,000 | Reduced by 6.67% for each dollar over $125,000 |
| >= $140,001 | no Roth IRA contribution allowed | no Roth IRA contribution allowed |
| Married Filing Separately MAGI | ||
| <= $0 | $6,000 | $1,000 |
| $1 to $10,000 | Reduced by 60% for each dollar over $0 | Reduced by 70% for each dollar over $0 |
| >= $10,000 | no Roth IRA contribution allowed | no Roth IRA contribution allowed |
| Other retirement plans | ||
| 401(k), Roth 401(k), 403(b), 457(b) | ||
| Deductible Contribution | Deductible Catch-up Contribution (age 50+) | Maximum Total Contribution (includes Employer match, non-deductible contributions, and catch-up) |
| $19,500 | $6,500 | $63,500 |
| SIMPLE IRA | ||
| $13,500 | $3,000 | |
