What Is The Standard Deduction For 2024 Joint Tax Return

What Is The Standard Deduction For 2024 Joint Tax Return. The standard deduction in 2024 is $14,600 for individuals, $29,200 for joint filers, and $21,900 for heads of households. The irs on thursday announced higher federal income tax brackets and standard deductions for 2024.

For the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing separately, $27,700 for married. Some people go for the standard deduction mainly because it is the least complicated and saves time.