What Is The Standard Deduction For 2024. 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. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750 from 2023.
If you’re looking ahead to your 2024 taxes—as wise taxpayers should—you’ll want to check on your 2024 standard deduction. If you are 65 or older and blind, the extra standard deduction for 2024 is $3,900 if you are single or filing as head of household.
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