RESOURCES

2019 Tax Information

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Filing Requirements

Filing Status Age Income
Single under 65 $12,200
65 or older $13,850
Head of Household under 65 $18,350
65 or older $20,000
Married, filing jointly under 65 (both spouses) $24,400
65 or older (one spouse) $25,700
65 or older (both spouses) $27,000
Married, filing separately any age $5
Qualifying widow(er) with dependent child under 65 $24,400
65 or older $25,700


Filing Requirements for Dependents

If your parent (or someone else) can claim you as a dependent, use the following information to determine if you must file a return.  Unearned income includes taxable interest, ordinary dividends, and capital gain distributions.  Earned income includes wages, tips and taxable scholarship and fellowship grants. Gross income is the total of your unearned and earned income.

Single dependents.  Were you either age 65 or older or blind?

__ No.  You must file a return if ANY of the following apply:

  • Your unearned income was over $1,100.
  • Your earned income was over $12,200.
  • Your gross income was more than the larger of:
      • $1,100 or
      • Your earned income (up to $11,850) plus $350.

__ Yes.  You must file a return if ANY of the following apply:

  • Your unearned income was over $2,750 ($4,400 if 65 or older AND blind).
  • Your earned income was over $13,850 ($15,500 if 65 or older AND blind).
  • Your gross income was more than the larger of:
      • $2,750 ($4,400 if 65 or older AND blind) or
      • Your earned income (up to $11,850) plus $2,000 ($3,650 if 65 or older AND blind).

Married dependents.  Were you either age 65 or older or blind?

__ No.  You must file a return if ANY of the following apply:

  • Your unearned income was over $1,100.
  • Your earned income was over $12,200.
  • Your gross income was at least $5 and your spouse files a separate return and itemizes deductions.
  • Your gross income was more than the larger of:
      • $1,100, or
      • Your earned income (up to $11,850) plus $350.

__ Yes.  You must file a return if ANY of the following apply:

  • Your unearned income was over $2,400 ($3,700 if 65 or older AND blind).
  • Your earned income was over $13,500 ($14,800 if 65 or older AND blind).
  • Your gross income was at least $5 and your spouse files a separate return and itemizes deductions.
  • Your gross income was more than the larger of:
      • $2,400, OR $3,700 if 65 or older AND blind) or
      • Your earned income (up to $11,850) plus $1,650 ($2,950 if 65 or older AND blind).

Standard Deductions

Filing Status Amount
Single $12,200
Married filing jointly $24,400
Head of household $18,350
Married, filing separate return $12,200
Qualifying Widow(er) with dependent child $24,400
Dependent of Another $1,100 or Earned Income + 350

Exemptions

Personal and Dependent Amount $-0-
Estate Amount* $600
Simple Trust* $300
Complex Trust* $100
*Exemption Not Allowed in Final Year.

Earned Income Credit

Single, Head of Household, and Qualifying Widow(er) Earned Income Ranges to Receive Maximum EIC Maximium EIC Amt. Maximium Earnings Before EIC Eliminated
From To
With No Children $6,900 $8,650 $529 $15,570
With One Child $10,350 $19,050 $3,526 $41,094
With Two Children $14,550 $19,050 $5,828 $46,703
With Three Children $14,550 $19,050 $6,557 $50,162
Married Filing Jointly Earned Income Ranges to Receive Maximum EIC Maximum Maximum Earnings Before EIC Eliminated
From To
With No Children $6,900 $14,450 $529 $21,370
With One Child $10,350 $24,850 $3,526 $46,884
With Two Children $14,550 $24,850 $5,828 $52,493
With Three Children $14,550 $24,850 $6,557 $54,952

Comparison of Education Credits

Lifetime Learning Credit American Opportunity
Up to $2,000 credit per return Up to $2,500 / up to 40% is refundable
Maximum lifetime learning rate is 20% 100% of first $2,000
Plus 25% of next $2,000
Available for all years of post-secondary education for for courses to acquire or improve job skills Available for four years of college an ONLY if the student had not completed the first 4 years of postsecondary education before 2019
Available for an unlimited number of years Available ONLY for 4 tax years per eligible student (including any years Hope credit was claimed)
Student doesn’t be pursuing a program leading to a degree or other recognized educational credential AGI Phase Out between $80,000 – $90,000 (160K – 180K MFJ)
Available for one or more courses Student must be enrolled at least half time for at least one academic period beginning during 2019 (or the first 3 months of 2020 if the qualified expenses were paid in 2019)
Felony drug conviction rule does not apply As of the end of 2019, the student had not been convicted of a felony for possession or distributing a controlled substance.

Student Loan Interest Deduction

Maximum interest deduction $2,500
Modified Adjusted Gross Income Phaseout:
Married Filing Jointly $140,000 to $170,000
Single / HOH $70,000 to $85,000

Standard Mileage Rates

Business Mileage 58 cents/mile
Charitable Mileage 14 cents / mile
Medical / Moving Mileage 20 cents / mile

Medical Savings Account (MSA)

Premium for High Deductible
Self Coverage $2,350 – $3,500
Family Coverage $4,650 – $7,000
Maximum Out of Pocket
Self Coverage $4,650
Family Coverage $8,550

Health Savings Account (HSA)

Maximum Annual Contribution Limits
Self Coverage $3,500
Family Coverage $7,000
Minimum Deductible
Self Coverage $1,350
Family Coverage $2,700
Maximum Out of Pocket
Self Coverage $6,750
Family Coverage $13,500
Additional Over Age 55-65
2019 and after $1,000

Did you know that a joint return is not always the best option for married couples? Ask us what the right filing status is for your particular situation.