What Is Standard Tax Deduction For 2024

What Is Standard Tax Deduction For 2024. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; The standard deduction will rise to $14,600 for single taxpayers, a $750 increase, the agency announced thursday.

Here’s a look at the projected numbers for the tax year 2024, beginning jan. The 2024 standard deduction for tax returns filed in 2025 is $14,600 for single filers, $29,200 for joint filers or $21,900 for heads of household.