2023 Tax Brackets
| Tax Rate |
Single Filers |
Married Filing Jointly or Qualifying Surviving Spouse |
Married Filing Separately |
Head of Household |
| 10% |
$0 to $11,000 |
$0 to $22,000 |
$0 to $11,000 |
$0 to $15,700 |
| 12% |
$11,001 to $44,725 |
$22,001 to $89,450 |
$11,001 to $44,725 |
$15,701 to $59,850 |
| 22% |
$44,726 to $95,375 |
$89,451 to $190,750 |
$44,726 to $95,375 |
$59,851 to $95,350 |
| 24% |
$95,376 to $182,100 |
$190,751 to $364,200 |
$95,376 to $182,100 |
$95,351 to $182,100 |
| 32% |
$182,101 to $231,250 |
$364,201 to $462,500 |
$182,101 to $231,250 |
$182,101 to $231,250 |
| 35% |
$231,251 to $578,125 |
$462,501 to $693,750 |
$231,251 to $346,875 |
$231,251 to $578,100 |
| 37% |
$578,126 or more |
$693,751 or more |
$346,876 or more |
$578,101 or more |
2023 Capital Gains Tax Rates
This table shows the capital gains tax rates for 2023 based on your taxable income and filing status.
| Filing Status |
Taxable Income |
Capital Gains Tax Rate |
| Single |
Up to $44,625 |
0% |
| Single |
$44,626 to $492,300 |
15% |
| Single |
Over $492,300 |
20% |
| Married Filing Jointly |
Up to $89,250 |
0% |
| Married Filing Jointly |
$89,251 to $553,850 |
15% |
| Married Filing Jointly |
Over $553,850 |
20% |
| Married Filing Separately |
Up to $44,625 |
0% |
| Married Filing Separately |
$44,626 to $276,900 |
15% |
| Married Filing Separately |
Over $276,900 |
20% |
| Head of Household |
Up to $59,750 |
0% |
| Head of Household |
$59,751 to $523,050 |
15% |
| Head of Household |
Over $523,050 |
20% |
IRA Contributions & Savings Options
This table compares features of different saving options, including IRAs.
| Feature |
Traditional IRA |
Roth IRA |
Savings Account |
Certificate of Deposit (CD) |
Taxable Brokerage Account |
| Tax-deductible contributions** |
Yes (up to limits)** |
No |
No |
No |
No |
| Tax-free qualified withdrawals** |
Yes |
Yes (contributions + earnings) |
No |
No |
No |
| Tax on earnings** |
Taxed upon withdrawal |
Tax-free |
Taxed on interest earned |
Taxed on capital gains and dividends |
Taxed on capital gains, dividends, and interest |
| Contribution limit (2023)** |
$6,000 ($7,000 if age 50+) |
$6,000 ($7,000 if age 50+) |
Varies by institution |
Varies by institution and term length |
No limit |
| Investment options** |
Stocks, bonds, mutual funds, ETFs |
Stocks, bonds, mutual funds, ETFs |
Limited (typically CDs or money markets) |
Limited (typically CDs) |
Wide variety (stocks, bonds, mutual funds, ETFs, etc.) |
| Accessibility of funds** |
Subject to penalties for early withdrawal (exceptions apply) |
Contributions always accessible, earnings subject to penalties for early withdrawal (exceptions apply) |
Generally readily accessible |
Early withdrawal penalty applies, varies by term length |
Generally readily accessible |
Maximum AGI for EIC – Tax Year 2023
| Children or Relatives Claimed |
Filing as Single, Head of Household, or Widowed |
Filing as Married Filing Jointly |
| Zero |
$17,640 |
$24,210 |
| One |
$46,560 |
$53,120 |
| Two |
$52,918 |
$59,478 |
| Three |
$56,838 |
$63,398 |
Investment Income Limit – Tax Year 2023
Investment income limit: $11,000 or less