Numbers to know when you file your 2012 tax return

Published on NewsOK Modified: January 23, 2013 at 2:15 am •  Published: January 23, 2013
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—$13,980 ($19,190 married filing jointly) with no qualifying children

Investment income cannot be more than $3,200 or less 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

—Taxed at a top rate of 35 percent in 2012, with the first $5.12 million in value exempted for individual estates and $10.24 million for family estates

IRA CONTRIBUTIONS:

—Traditional IRA contribution limit: $5,000

—Additional contribution if over 50: $1,000

DEFERRED RETIREMENT ACCOUNTS

— 401(k), 403(b),: $17,000

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

STANDARD MILEAGE RATES:

Business use

—55.5 cents a mile

Medical reasons or qualified move

—23 cents a mile

Charitable purposes

—14 cents a mile