What Is The Standard Deduction For 2024

What Is The Standard Deduction For 2024. For taxpayers who are married and filing jointly, the standard deduction for the 2024 tax. Single taxpayers will have a standard deduction of $14,600, up from $13,850.

The standard deduction is a flat dollar amount set by the irs based on your filing status. The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year.