2013 Tax Figures Adjusted for Inflation

This page is part of the Fairmark.com Reference Room, offering an easy way to find figures that are adjusted from time to time. This page covers items other than tax rate schedules or figures relating to retirement accounts and health savings accounts.

Personal exemptions

2012 2013
Personal exemption
Dollar amount 3,800 3,900
Personal exemptions begin to phase out
married filing jointly NA 300,000
head of household NA 275,000
single NA 250,000
married filing separately NA 150,000

Standard and itemized deductions

2012 2013
Standard deduction
married filing jointly 11,900 12,200
head of household 8,700 8,950
single or separate 5,950 6,100
Additional amount for aged or blind
married 1,150 1,200
single 1,450 1,500
Standard deduction for dependent
minimum 950 1,000
or earned income plus 300 350
Reduction in itemized deductions begins
married filing jointly NA 300,000
head of household NA 275,000
single NA 250,000
married filing separately NA 150,000

Education benefits

2012 2013
Education loan deduction begins to phase out
married filing jointly 125,000 125,000
others 60,000 60,000
American opportunity credit (Hope scholarship credit)
100% up to 2,000 2,000
25% of next 2,000 2,000
phaseout begins, joint return 160,000 160,000
phaseout begins, others 80,000 80,000
Lifetime learning credit begins to phase out
married filing jointly 104,000 107,000
others 52,000 53,000
Savings bond interest exclusion begins to phase out
married filing jointly 109,250 112,050
others 72,850 74,700

Alternative minimum tax (“AMT”)

2012 2013
AMT exemption amount
married filing jointly 78,750 80,800
single 50,600 51,900
AMT exemption amount begins to phase out
married filing jointly 150,000 153,900
unmarried 112,500 115,400
married filing separately 75,000 76,950
AMT 28% rate begins
all except MFS 175,000 179,500
married filing separately 87,500 89,750

Estate and gift tax

2012 2013
Gift tax exclusion
individual 13,000 14,000
non-citizen spouse 139,000 143,000
Unified credit exclusion amount
individual 5,120,000 5,250,000

Standard mileage rates

2012 2013
business 55.5¢ 56.5¢
basis reduction 23.0¢ 23.0¢
medical and moving 23.0¢ 24.0¢
charitable 14.0¢ 14.0¢

 


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