Key Federal Inflation-Adjusted Amounts for 2018
In Rev.Proc. 2018-18, the IRS has released various tax rates, brackets, and threshold amounts for 2018, incorporating inflation adjustments and the new tax act. Some of the principal figures are as follows:
Alternative Minimum Tax Exemption for Individuals: $109,400 for married individuals filing joint returns and surviving spouses – $70,300 for other unmarried individuals – $24,600 for estates and trusts.
Standard Deduction: $24,000 for married individuals filing joint returns and surviving spouses – $12,000 for unmarried individuals . . .