Tax Details
(Age 41)
Tax Details for Age 41 (Year 1)
INCOME
Ordinary Income
Active Income
$0
Investment Income
$0
Total Ordinary Income
$0
Capital Gains
Investments
$0
Real Estate
$0
Total Capital Gains
$0
TAX-FREE
401k Deposit
$0
Early Withdrawal Penalties
$0
IRS CALCULATIONS
Adjusted Gross Income
$0
State Tax & Property Tax
$0
Mortgage Interest
$0
Schedule A Deduction
$24,480
Federal Taxable Income
$0
Taxable Capital Gains
$0
TOTAL TAXES
Federal Tax
$0
State Tax
$0
Capital Gains Tax
$0
FICA Tax
$0
Total All Taxes
$0
Effective Tax Rate:
0.0%
After-Tax Income:
$0
Federal Tax Brackets (Married Filing Jointly)
| Rate | Bracket |
|---|---|
| 10.0% | $0 |
| 12.0% | $23,850 |
| 22.0% | $96,950 |
| 24.0% | $206,700 |
| 32.0% | $394,600 |
| 35.0% | $501,050 |
| 37.0% | $751,600 |
Connecticut Tax Brackets (CT)
| Rate | Bracket |
|---|---|
| 2.00% | $0 |
| 4.50% | $20,000 |
| 5.50% | $100,000 |
| 6.00% | $200,000 |
| 6.50% | $400,000 |
| 6.90% | $500,000 |
| 6.99% | $1,000,000 |
Federal Capital Gains Brackets
| Rate | Bracket |
|---|---|
| 0.0% | $0 |
| 15.0% | $96,700 |
| 20.0% | $600,050 |
IRS Constants (2024)
Max 401(k) Contribution
$23,000
Standard Deduction
$29,200
SALT Cap
$10,000
Home Cap Gain Allowance
$500,000
