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# 2020 Marginal Tax Brackets

Your marginal tax bracket determines how much of the earnings from savings and investments you get to keep after taxes. Below are the tax rate schedules for 2020:

Individual Tax Rate Schedules for 2020
Marginal Tax Bracket Rate Single
Taxable Income
Married Filing Jointly
Taxable Income
Married Filing Separately
Taxable Income
Head of Household
Taxable Income
10% \$0 to \$9,875 \$0 to \$19,750 \$0 to \$9,875 \$0 to \$14,100
12% \$9,876 to \$40,125 \$19,751 to \$80,250 \$9,876 to \$40,125 \$14,101 to \$53,700
22% \$40,126 to \$85,525 \$80,251 to \$171,050 \$40,126 to \$85,525 \$53,701 to \$85,500
24% \$85,526 to \$163,300 \$171,051 to \$326,600 \$85,526 to \$163,300 \$85,501 to \$163,300
32% \$163,301 to \$207,350 \$326,601 to \$414,700 \$163,301 to \$207,350 \$163,301 to \$207,350
35% \$207,351 to \$518,400 \$414,701 to \$622,050 \$207,351 to \$311,025 \$207,351 to \$518,400
37% \$518,401 and higher \$622,051 and higher \$311,026 and higher \$518,401 and higher

You can compare yields by using the following formula:

Taxable equivalent yield = tax-free yield ÷ (100% – marginal tax bracket %) or see www.calcxml.com/calculators/inc11?skn, which includes both federal and state income tax rates.

Example: Assume you are in the 22% tax bracket, and have an account with a 4.0% tax-free yield. To get the equivalent taxable yield, divide 4.0% by 78% (100% – 22%). The taxable yield is 5.13%.