Key Retirement and Tax Numbers for 2021
每年, the Internal Revenue Service announces cost-of-living adjustments that aﬀect contribution limits for retirement plans and various tax deduction, 排除, 豁免, 和阈值. Here are a few of the key adjustments for 2021.
Estate, Gift, and Generation-Skipping Transfer Tax
- The annual gift tax 排除 (and annual generation-skipping transfer tax 排除) for 2021 is $15,000, 与2020年相同.
- The gift and estate tax basic 排除 amount (and generation-skipping transfer tax 豁免) for 2021 is $11,700,000, 从11美元,580,000 in 2020.
A taxpayer can generally choose to itemize certain deductions or claim a standard deduction on the federal income tax return. In 2021, the standard deduction is:
- $12,550 (up from $12,400 in 2020) for single ﬁlers or married individuals ﬁling separate returns
- $25,100 (up from $24,800 in 2020) for married individuals ﬁling joint returns
- $18,800 (up from $18,650 in 2020) for heads of households
The additional standard deduction amount for the blind or aged (age 65 or older) in 2021 is:
- $1,700 (up from $1,650 in 2020) for single ﬁlers and heads of households
- $1,350 (up from $1,300 in 2020) for all other ﬁling statuses
Special rules apply if you can be claimed as a dependent by another taxpayer.
The combined annual limit on contributions to traditional and Roth ira is $6,000 in 2021 (与2020年相同), with individuals age 50 and older able to contribute an additional $1,000. The limit on contributions to a Roth IRA phases out for certain modiﬁed adjusted gross income (MAGI) ranges. For individuals who are covered by a workplace retirement plan, the deduction for contributions to a traditional IRA also phases out for certain MAGI ranges. (The limit on nondeductible contributions to a traditional IRA is not subject to phase-out based on MAGI.)
The 2021 phaseout range is $198,000–$208,000美元(原先是196美元,000–$206,000 in 2020) when the individual making the IRA contribution is not covered by a workplace retirement plan but is filing jointly with a spouse who is covered. 逐步淘汰的范围是$0 - $10,000 when the individual is married filing separately and either spouse is covered by a plan.
- Employees who participate in 401(k), 403(b), and most 457 plans can defer up to $19,500 in compensation in 2021 (与2020年相同); employees age 50 and older can defer up to an additional $6,500 in 2021 (与2020年相同).
- Employees participating in a SIMPLE retirement plan can defer up to $13,500 in 2021 (与2020年相同), and employees age 50 and older can defer up to an additional $3,000 in 2021 (与2020年相同).
Kiddie Tax: Child’s Unearned Income
在儿童税下, a child's unearned income above $2,200 in 2021 (与2020年相同) is taxed using the parents' tax rates.