Chloe Delcina

What Is The Standard Deduction For 2024 Taxes. Here's a quick overview of what the standard deduction is, which taxpayers it works best for, and the standard deduction amounts for tax years 2023 and 2024. For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for heads of household.

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 is increasing by more than 5% for 2024 income tax returns, which will be filed in 2025.