Married Standard Deduction 2024. The 2023 standard deduction for tax returns filed in 2024 is $13,850 for single filers, $27,700 for joint filers or $20,800 for heads of household. The amount of the standard deduction is adjusted every year to account for inflation.
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 gets adjusted regularly for inflation.
For The Tax Year 2024, The Standard Deduction For Married Couples Filing Jointly Will Increase To $29,200, An Increase Of $1,500 Over The Tax Year 2023.
The standard deduction for 2024 will rise to $29,200 for married couples filing jointly and to $14,600 for single filers.
For Single Taxpayers And Married Individuals Filing Separately, The Standard Deduction Rises To $13,850 For 2023, Up $900, And For Heads Of Households, The Standard.
Single or married filing separately:
See The Tax Rates For The 2024 Tax Year.
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November 10, 2023 At 10:01.
How does the standard deduction work?.
For The 2023 Tax Year, Which Is Filed In Early 2024, The Federal Standard Deduction For Single Filers And Married Folks Filing Separately Was $14,600.
For the tax year 2024, the standard deduction for married couples filing jointly will increase to $29,200, an increase of $1,500 over the tax year 2023.