2024 Standard Tax Deduction Married Filing Jointly
2024 Standard Tax Deduction Married Filing Jointly. Single filers are taxed at the lowest marginal tax rate of. 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.
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. The standard deduction is a flat amount that reduces your taxable income and potentially your tax bill.