Tax Year 2015

Filling Requirements

• Single =
• HoH =
• MFS (any age) =
• QW =
• MFJ =

for Age 65 or Older, Add

• Single, HoH =
• MFJ, QW =

Personal Exemption

• Reduced 2% for Each $2,500 over AGI Limits
• $1,250 for MFS

Phase-out Based on AGI

• Single =
• HoH =
• MFS =
• MFJ, QW =

Standard Deduction

• Single, MFS =
• HoH =
• MFJ, QW =

Dependents of Other Taxpayers

• Minimum of , or
• Earned Income + , if
• Less Than

Additional Standard Deduction
for Age 65 or Older, or Blind

• Single, HoH =
• MFS, MFJ, or QW =

AGI Limits

• Single =
• HoH =
• MFS =
• MFJ =

Student Loan Interest Deduction

• Maximum Deduction =

Limit on MAGI

• MFS = Not Qualify
• MFJ =
• Others =

Tuition and Fees Deduction

• Maximum Deduction =

Limit on MAGI

• MFS = Not Qualify
• MFJ =
• Others =

Number of Children

MFJ AGI Limits

Others AGI Limits

Maximum Credit

Disqualified Earned Income Credit

• Married Filling Separately
• If Investment Income Is in Excess of Last Year
• Be Claimed as A Dependent or Qualifying Child on Anyone Else's Return

Child Tax Credit Conditions

• Each Qualifying Child under 17 =
• Phase-out for Each over AGI Limits
• Additional Child Tax Credit Is Refundable

AGI Limits

• MFJ = over
• MFS = over
• Others = over

Dollar Limit

• One Qualifying Person under 13 =
• 2 or More Qualifying Person under 13 =
• Credit Is Reduced by for Each over AGI Limit

AGI Limit Range

• From , If AGI Is or under
• To , If AGI Is or under
• Maximum , If AGI Is over

American Opportunity Tax Credit

• May Be Refundable
• Maximum Credit =

Limit on MAGI

• MFS = Not Qualify
• MFJ =
• Others =

Lifetime Learning Credit

• of Tuition and Fees
• Maximum credit =

Limit on MAGI

• MFS = Not Qualify
• MFJ =
• Others =

NOT ELIGIBLE

• Under Age 18
• A Full-time Student
• Be Claimed as A dependent on Other's Return
• Rollover Contributions

AMOUNT OF CREDIT

• Up To
• If Married Filling Jointly

2015 PERCENT OF FEDERAL POVERTY LEVEL (FPL)

Household Size

100%

133%

150%

200%

300%

400%

If You Earn

Your Expected Contribution Is

Penalty for 2015

• of Household Income
• Maximum: Total Yearly Premium

or

• Per Adult =
• Per Child under 18 =
• Maximum =

Penalty for 2016

• of Household Income
• Maximum: Total Yearly Premium

or

• Per Adult =
• Per Child under 18 =
• Maximum =

IRA

• Under Age 50 =
• 50 or over, Add =

Retirement Plan MAGI Limits

• MFJ, QW =
• MFS =
• Others =

Roth IRA

• Under Age 50 =
• 50 or over, Add =

MAGI Limits

• MFJ, QW =
• MFS =
• Others =

401K, 403B, 457

• Under Age 50 =
• 50 or over, Add =

SEP, SARSEP

• of The Employee's Compensation, or

Social Security Tax

• Maximum Taxable Earnings =
• Employee Rate =
• Self-employed Rate =

Retirement Earnings Test Exempt Amounts

• Under Full Retirement Age =
• Year of Full Retirement Age =
• Full Retirement Age = No Limit

Withhold Benefits for Earned Income

• Under Full Retirement Age, $1 Benefit Is Withheld for Every $2 Earning over
• Year of Full Retirement Age, $1 Benefit Is Withheld for Every $3 Earning over

Medicare Tax

• Maximum Taxable Earnings = No Limit
• Employee Rate =
• Self-employed Rate =

Additional 0.9% Tax on Earned Income

• MFS = over
• MFJ = over
• Others = over

Additional 3.8% Tax on Investment Income

• MFS = over
• MFJ, QW = over
• Others = over

Tax Brackets

Short Term

Long Term

Qualify Dividends

Standard Mileage

• Charity = /per mile
• Business = /per mile
• Medical, Moving = /per mile

Section 179

• Dollar Limits =
• Limit Range =
• SUV Limit =