This page lists the main IRS inflation adjustments for 2018 (with 2017 figures for comparison) as announced by the IRS prior to the adoption of the Tax Cuts and Jobs Act in December 2017. Many of these figures are changed by the Act. For example, the deduction for personal exemptions is eliminated, and of course this means we are no longer concerned with the rule that phases this deduction out above certain income levels. We present these figures for those who want to compare their 2018 tax under the new law with what it would have been under prior law.
Personal exemptions
Personal exemption
| dollar amount |
4,050 |
4,150* |
Personal exemptions begin to phase out
| married filing jointly |
313,800 |
320,000* |
| head of household |
287,650 |
293,350* |
| single |
261,500 |
266,700* |
| married filing separately |
156,900 |
160,000* |
Standard and itemized deductions
Standard deduction
| married filing jointly |
12,700 |
13,000* |
| head of household |
9,350 |
9,550* |
| single or separate |
6,350 |
6,500* |
Additional amount for aged or blind
| married |
1,250 |
1,300 |
| single |
1,550 |
1,600 |
Standard deduction for dependent
| minimum |
1,050 |
1,050 |
| or earned income plus |
350 |
350 |
Reduction in itemized deductions begins
| married filing jointly |
313,800 |
320,000 |
| head of household |
287,650 |
293,350 |
| single |
261,500 |
266,700 |
| married filing separately |
156,900 |
160,000 |
Education benefits
Education loan deduction begins to phase out
| married filing jointly |
135,000 |
135,000 |
| others |
65,000 |
65,000 |
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 |
112,000 |
114,000 |
| others |
56,000 |
57,000 |
Savings bond interest exclusion begins to phase out
| married filing jointly |
117,200 |
119,550 |
| others |
78,150 |
79,700 |
Alternative minimum tax (“AMT”)
AMT exemption amount
| married filing jointly |
84,500 |
86,200* |
| single |
54,300 |
55,400* |
| married filing separately |
42,250 |
43,100* |
AMT exemption amount begins to phase out
| married filing jointly |
160,900 |
164,100* |
| unmarried |
120,700 |
123,100* |
| married filing separately |
80,450 |
82,050* |
AMT 28% rate begins
| all except MFS |
187,800 |
191,500 |
| married filing separately |
93,900 |
95,750 |
Estate and gift tax
Gift tax exclusion
| individual |
14,000 |
15,000 |
| non-citizen spouse |
149,000 |
152,000 |
Unified credit exclusion amount
| individual |
5,490,000 |
5,600,000* |
Standard mileage rates (in cents)
When not claiming actual expenses
| business |
53.5 |
54.5 |
| basis reduction |
25 |
25 |
| medical and moving |
17 |
18 |
| charitable |
14 |
14 |
More tax figures: Reference Room
