Here are the 2023 tax figures in some of the most important categories.
We have other pages giving 2023 tax brackets and 2023 retirement contribution limits and HSA numbers. Figures for previous years are available in our Reference Room.
Standard deduction
Standard deduction, general rule
| married filing jointly |
27,700 |
| head of household |
20,800 |
| single or separate |
13,850 |
Additional amount for aged or blind
| married |
1,500 |
| single |
1,850 |
Standard deduction for dependent
| minimum |
1,250 |
| or earned income plus |
400 |
Education benefits
Education loan deduction begins to phase out
| married filing jointly |
155,000 |
| others |
75,000 |
Lifetime learning credit begins to phase out
| married filing jointly |
160,000 |
| others |
80,000 |
Savings bond interest exclusion begins to phase out
| married filing jointly |
137,800 |
| others |
91,850 |
Alternative minimum tax (“AMT”)
AMT exemption amount
| married filing jointly |
126,500 |
| single |
81,300 |
| married filing separately |
63,250 |
AMT exemption amount begins to phase out
| married filing jointly |
1,156,300 |
| unmarried |
578,150 |
| married filing separately |
578,150 |
AMT 28% rate begins
| all except MFS |
220,700 |
| married filing separately |
110,350 |
Estate and gift tax
Gift tax exclusion
| individual |
17,000 |
| non-citizen spouse |
175,000 |
Unified credit exclusion amount
| individual |
12,920,000 |
Standard mileage rates (in cents)
When not claiming actual expenses
| business |
65.5 |
| basis reduction |
28 |
| medical and moving |
22 |
| charitable |
14 |
More tax figures: Reference Room
