|
|
Home Buyers Tax Information
This
information is derived from the 2003 Tax Tables obtained from the IRS Web
Site (www.irs.gov) in
the Tax Information for Individuals section. InterfaithCapital is not responsible
for the accuracy of the information.
| |
|
| If you are filing
as: |
Your Standard Deduction
is: |
| Single |
$4,750.00 |
| Married Filing
Jointly |
$9,500.00 |
| Married Filing
Separately |
$4,750.00 |
| Head of Household |
$7,000.00 |
| |
|
** The
amount on Form 1040, line 40
*** The amount on Form 1040, line 41
 |
| Tax
Tables for Single Status: |
| Taxable Income** |
Your Tax***
|
|
of the amount over
- |
| $0.00 - $7,000.00 |
10.00% |
|
$0.00 |
| $7,000.00
- $28,400.00 |
$700.00
+ 15.00% |
|
$7,000.00 |
| $28,400.00 -
$68,800.00 |
$3,910.00 + 25.00% |
|
$28,400.00 |
| $68,800.00 -
$143,500.00 |
$14,010.00 + 28.00% |
|
$68,800.00 |
| $143,500.00 -
$311,950.00 |
$34,926.00 + 33.00% |
|
$143,500.00 |
| $311,950.00 -
Unlimited |
$90,514.50 + 35.00% |
|
$311,950.00 |
| |
Tax Tables for Married (Filing Jointly) Status: |
| Taxable Income** |
Your Tax***
|
|
of the amount over
- |
| $0.00 - $14,000.00 |
10.00%
|
|
$0.00 |
| $14,000.00 -
$56,800.00 |
$1,400.00
+ 15.00%
|
|
$14,000.00 |
| $56,800.00 -
$114,650.00 |
$7,820.00
+ 25.00%
|
|
$56,800.00 |
| $114,650.00 -
$174,700.00 |
$22,282.50
+ 28.00%
|
|
$114,650.00 |
| $174,700.00 -
$311,950.00 |
$39,096.50
+ 33.00%
|
|
$174,700.00 |
| $311,950.00 -
Unlimited |
$84,389.00
+ 35.00%
|
|
$311,950.00 |
| |
Tax Tables for Married (Filing Separately) Status: |
| |
Taxable Income** |
Your Tax***
|
|
of the amount over
- |
| |
$0.00 - $7,000.00 |
10.00%
|
|
$0.00 |
| |
$7,000.00 - $28,400.00 |
$700.00
+ 15.00%
|
|
$7,000.00 |
| |
$28,400.00 -
$57,325.00 |
$3,910.00
+ 25.00%
|
|
$28,400.00 |
| |
$57,325.00 -
$87,350.00 |
$11,141.25
+ 28.00%
|
|
$57,325.00 |
| |
$87,350.00 -
$155,975.00 |
$19,548.25
+ 33.00%
|
|
$87,350.00 |
| |
$155,975.00 -
Unlimited |
$42,194.50
+ 35.00%
|
|
$155,975.00 |
| |
Tax Tables for Head of Household Status: |
| Taxable Income** |
Your Tax***
|
|
of the amount over
- |
| $0.00 - $10,000.00 |
10.00%
|
|
$0.00 |
| $10,000.00 -
$38,050.00 |
$1,000.00
+ 15.00%
|
|
$10,000.00 |
| $38,050.00 -
$98,250.00 |
$5,207.50
+ 25.00%
|
|
$38,050.00 |
| $98,250.00 -
$159,100.00 |
$20,257.50
+ 28.00%
|
|
$98,250.00 |
| $159,100.00 -
$311,950.00 |
$37,295.50
+ 33.00%
|
|
$159,100.00 |
| $311,950.00 -
Unlimited |
$87,736.00
+ 35.00%
|
|
$311,950.00 |
|
