What Is Standard Tax Deduction For 2024 Taxes . The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). The change is one of several annual adjustments.
The standard deduction is increasing by more than 5% for 2024 income tax returns, which will be filed in 2025. 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.
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Your first look at 2024 tax rates, brackets, deductions, more KM&M CPAs , The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).