Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

Bruins Live

3

4

Final OT

Patriots Live

17

16

Final

Tax season, by the numbers

Here are some key numbers you should know about when filing your 2012 tax returns, according to the Internal Revenue Service:

Personal exemption: Each personal or dependent exemption is worth $3,800.

Continue reading below

Standard deduction:$11,900 for married couples filing a joint return and for qualifying widows and widowers; $5,950 for singles and married individuals filing separate returns; $8,700 for heads of household. Those 65 or older or blind may be eligible for a higher standard deduction.

Alternative minimum tax threshold: $78,750 for a married couple filing a joint return and for qualifying widows and widowers; $50,600 for singles and heads of household.

Income tax brackets: 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent

Earned income tax credit: To qualify, income can be no greater than:

—$45,060 ($50,270 married filing jointly) with three or more qualifying children

—$41,952 ($47,162 married filing jointly) with two qualifying children

—$36,920 ($42,130 married filing jointly) with one qualifying child

—$13,980 ($19,190 married filing jointly) with no qualifying children

Investment income cannot be more than $3,200 for the year.

Maximum credit:

—$5,891 with three or more qualifying children

—$5,236 with two qualifying children

—$3,169 with one qualifying child

—$475 with no qualifying children

Capital gains: 0 percent if taxpayer is in the 10 percent or 15 percent income tax brackets; 15 percent top rate if taxed in higher brackets.

Estate tax: Top rate of 35 percent in 2012, with first $5.12 million in value exempted for individual estates and $10.24 million for family estates.

IRA contributions: Traditional IRA limit is $5,000; additional contribution of $1,000 allowed for over age 50.

Deferred retirement accounts

— 401(k), 403(b),: $17,000

—Additional contribution if 50 or older: $5,500

Standard mileage rates: Business, 55.5 cents a mile; medical or qualified move, 23 cents; charitable, 14 cents.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com