What Is Standard Tax Deduction For 2024 24
What Is Standard Tax Deduction For 2024 24. The 2024 standard deduction amounts are as follows: If you are at least 65 or blind, you can claim an additional 2024 standard deduction of $1,950 (also $1,950 if using the single or head of household filing status).
The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750 from 2023. The irs also raised thresholds for its seven tax brackets by 5.4.