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| 2004 General
Tax Information |
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| 2004 Filing
Requirements |
| Single |
under 65 |
$7,950 |
| 65 or older |
$9,150 |
| Head of
household |
under 65 |
$10,250 |
| 65 or older |
$11,450 |
| Married, filing jointly*** |
under 65 (both spouses) |
$15,900 |
| 65 or older (one spouse) |
$16,850 |
| 65 or older (both spouses) |
$17,800 |
| Married, filing separately |
any age |
$3,100 |
| Qualifying widow(er) with
dependent child |
under 65 |
$12,800 |
| 65 or older |
$13,750 |
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*If you were born on January 1, 1940, you are
considered to be age 65 at the end of 2004.
**Gross Income means all income you received in the form of
money, good, property, and services that is not exempt from
tax, including any income from sources outside the United States
(even if you may exclude all or part of it). Do not include
Social Security benefits unless you are married filing a seperate
return and you lived with your spouse at any time in 2004.
***If you did not live with your spouse at the end of 2004 (or
on the date your spouse died) and your gross income was at least
$3,100, you must file a return regardless of age. |
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| 2004 Itemized
Deductions |
| All filing status' but Married Filing
Separate (Phaseout) |
$142,700 |
| Married Filing Separate
(Phaseout) |
$71,350 |
|
| |
| 2004 Standard
Deductions |
| |
| 2004 Education
Provisions |
| Hope Scholarship Credit |
$1000 |
| Interest on Education Loans |
$2,500 |
Student
Loan Interest Deduction (Phaseout)
| Married Filing
Joint |
$100,000 |
| Single/Head of Household |
$50,000 |
|
Education Expense Deduction
| Single with AGI
0 to $65,000: |
$4000 |
| Married Filing Joint with AGI 0
to $80,000: |
$4000 |
| Single with AGI $66,000 to $130,000: |
$2000 |
| Married Filing Joint with AGI $66,000
to $160,000: |
$2000 |
|
U.S. Savings Bond Interest
Exclusion (Phaseout)
| Married Filing
Joint |
$89,750 to $119,750 |
| All other filing status |
$59,850 to $74,850 |
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| 2004 Mileage
Rates |
| Business Mileage |
37.5 cents per mile |
| Charitable Mileage |
14 cents per mile |
| Medical Mileage |
14 cents per mile |
|
| |
| 2004 Miscellaneous |
| Annual Exclusion for Gifts |
$11,000 |
| Annual Exclusion for
Gifts to Spouse not a Citizen |
$114,000 |
| Unearned Income of Minor Child (Kiddie
Tax) |
$800 ($8,000 for parental election) |
| Leap Year |
366 days |
|
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| 2004 Exemptions |
| Personal Exemptions |
|
| Exemption |
$3100/person |
| Personal Exemption
Phaseout |
|
| Single (Phaseout) |
$142,700 |
| Married Filing Joint and qualifying widow(er)s
with dependent children (Phaseout) |
$214,050 |
| Head of Household (Phaseout) |
$178,350 |
| Married, filing separate return (Phaseout) |
$107,025 |
|
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| 2004 Withholding
Table |
[ Download ] |
| |
| 2004 Adoption
Credit |
| Maximum credit for child with special
needs |
$10,390 |
| Other adoptions, qualified
expenses up to |
$10,390 |
| Phaseout range, modified AGI |
$155,860 to $195,860 |
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| 2004 Estate
and Gift Taxes |
| Unified Credit Amount |
$1,500,000 |
| Credit Allowed for
State Death Taxes |
25% |
| Estate/Gift Tax Rate (before phaseout) |
48% |
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