2023 Marcum Year-End Tax Guide

THE MARCUM YEAR-END TAX GUIDE 2023 131

COST OF LIVING UPDATES 2023-2024 (CONTINUED) 2023 TAXABLE INCOME THRESHOLD FOR LONG-TERM CAPITAL GAINS RATE

15% RATE FOR LONG-TERM CAPITAL GAINS AND QUALIFIED DIVIDENDS

20% RATE FOR LONG-TERM CAPITAL GAINS AND QUALIFIED DIVIDENDS

0% RATE FOR LONG-TERM CAPITAL GAINS AND QUALIFIED DIVIDENDS

FILING STATUS

MFJ

Up to $89,250

$89,251 - $553,850

Over $553,850

HH

Up to $59,750

$59,751 - $523,050

Over $523,050

Single

Up to $44,625

$44,626 - $492,300

Over $492,300

MFS

Up to $44,625

$44,626 - $276,900

Over $276,900

Estates and Trusts

Up to $3,000

$3,001 - $14,650

Over $14,650

2024 TAXABLE INCOME THRESHOLD FOR LONG-TERM CAPITAL GAINS RATE

15% RATE FOR LONG-TERM CAPITAL GAINS AND QUALIFIED DIVIDENDS

20% RATE FOR LONG-TERM CAPITAL GAINS AND QUALIFIED DIVIDENDS

0% RATE FOR LONG-TERM CAPITAL GAINS AND QUALIFIED DIVIDENDS

FILING STATUS

MFJ

Up to $94,050

$94,051 - $583,750

Over $583,750

HH

Up to $63,000

$63,001 - $551,350

Over $551,350

Single

Up to $47,025

$47,026 - $518,900

Over $518,900

MFS

Up to $47,025

$47,026 - $291,850

Over $291,850

Estates and Trusts

Up to $3,150

$3,151 - $15,450

Over $15,450

GIFT & ESTATE TAX EXEMPTIONS

2023

2024

Gift Tax Exemption

$12,920,000

$13,610,000

Estate Tax Exemption

$12,920,000

$13,610,000

Gst Tax Exemption

$12,920,000

$13,610,000

Annual Exclusion

$17,000

$18,000

Annual Exclusion (For Gifts To Spouses Who Are Not Us Citizens)

$175,000

$185,000

marcumllp.com