2019 U.S Quick Tax Facts

2019 Standard Deductions

  • $ 24,400 - Married Filing Joint Return and Surviving Spouse
  • $ 18,350 - Head of Household
  • $ 12,200 - Single
  • $ 12,200 - Married Filing Separately
  • $ 1,100 - Dependent Standard Deduction (Min.)
  • $ 1,300 - Additional Amount for Age or Blind
  • $ 1,650 - Additional Amount for Age or Blind (Single, not Surviving Spouse)

 2019 Exemptions and Itemized Deductions

  • $ 0 - Personal and Dependent Exemption
  • 10% - Medical and Dental Expenses (AGI Threshold)
  • State and Local Taxes
    • $ 10,000 - Married Filing Jointly, Single, Head of Household
    • $ 5,000 - Married Filing Separately
  • Casualty and Theft Losses
    • Federal Disaster Losses - Allowed
    • Other Losses - Not Allowed
  • Miscellaneous Itemized Deductions
    • Not Subject to 2% of AGI Limit  - Allowed


​​​​​​2019 Credits, Exclusions, and Other Deductions

  • Child Tax Credit (Subject to AGI Limits)
    • $ 2,000 - Qualifying Child Under Age 17 (Max.)
    • $ 500 - Other Dependent (Max.)
    • $ 1,400 - Refundable Additional Child Tax Credit (Max.)
      $ 2,500 - American Opportunity Credit (Max.)
  • $ 2,000 - Lifetime Learning Credit (Max.)
  • $ 2,500 - Student Loan Interest Deduction (Max.)
  • U.S. Savings Bond Interest Exclusion (MAGI Phaseout Starts)
    • $ 121,600 - Married Filing Jointly
    • $ 81,100 - Single, Head of Household, and Surviving Spouse
  • U.S. Savings Bond Interest Exclusion (MAGI Phaseout Ends)
    • $ 151,600 - Married Filing Jointly
    • $ 96,100 - Single, Head of Household, and Surviving Spouse

 2019 Transportation

  • 58¢ - Standard Mileage Rate
  • 20¢ - Medical and Moving Mileage Rate
  • 14¢ - Charitable Mileage Rate
  • 26¢ - Depreciation Component of Standard Mileage Rate
  • $ 287 - High Cost Per Diem Travel Rate (after 9/30/18)
  • $ 195 - Low Cost Per Diem Travel Rate (after 9/30/18)

 2019 HSAs, FSAs, and Coverdells

  • Health Savings Account (HSA) Deductible Contributions (Max.)
    • $ 7,000 - Family Coverage
    • $ 3,500 - Self-Only Coverage
  • $ 2,700 - Health Flexible Savings Account (FSA) Contributions (Max.)
  • $ 2,000 - Coverdell Education Savings Account Contributions (Max.)

 2019 Retirement Plans

  • $ 19,000 - Elective Deferral to 401(k), 403(b), 457 and Thrift Plans (Max.)
  • $ 13,000 - Elective Deferral to SIMPLE 401(k) and IRA Plans (Max.)
  • $ 6,000 - Contribution Limit to Traditional and Roth IRAs (Max.)
  • Catch-up Contribution Limits (For Individuals Age 50 and Over)
    • 401(k), 403(b), 457, and Thrift Plans $ 6,000
    • SIMPLE 401(k) and IRA Plans $ 3,000
    • Traditional and Roth IRAs $ 1,000
  • $ 56,000 - Annual Additions to Defined Contribution Plans and SEPs (Max.) 
  • $ 280,000 - Annual Compensation Limit for Determining Contributions (Max.)
  • $ 600 - SEP Minimum Compensation Amount
  • $ 220,000 - Annual Additions to Defined Benefit Plans (Max.)
  • $ 125,000 - Highly Compensated Employee Threshold

 2019 Estate and Gift Taxes

  • $ 11,400,000 - Estate & Gift Basic Exclusion Amount
  • Annual Gift Tax Exclusion
    • $ 15,000 - Per Donee
    • $ 30,000 - Split Gifts by Spouses
    • $ 155,000 - Gifts to Noncitizen Spouse
  • 40% - Maximum Estate & Gift Tax Rate