Standard Deduction 2024 Taxes. Standard deduction gives the rules and dollar amounts for the standard deduction—a benefit for taxpayers who don't itemize their deductions. For 2024, the additional standard deduction amount for the aged or the blind is $1,550.
In 2024 (taxes filed in 2025), the standard deduction for single filers and those married filing separately is $14,600, up $750 from the previous year. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).
These Higher Deduction Amounts Will Result In Lower Taxes.
For 2024, the baseline amount for those claimed as a dependent, increases to $1,300 and the standard deduction increase to $14,600 for those filing as single.
Standard Deduction 2024 Over 65.
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 2023 Taxes, Due In April 2024, The Standard Deduction Is $13,850 For Single Filers And Those Who Are Married Filing Separately.
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For 2024, The Baseline Amount For Those Claimed As A Dependent, Increases To $1,300 And The Standard Deduction Increase To $14,600 For Those Filing As Single.
For 2023, the standard deduction numbers to beat.
For 2023, The Standard Deduction Is $13,850 For Individuals, $27,700 For Joint Filers, Or $20,800 For Heads Of Household.
Here are the standard deduction amounts for the 2023 tax returns that will be filed in 2024.
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.