How Much Is The Standard Deduction For 2024. Ellen is single, over the. A hike in standard deduction would mean more tax savings for salaried individuals and pensioners.
For the tax year 2024, the standard deduction for married couples filing jointly will increase to $29,200, an increase of $1,500 over the tax year 2023. For the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing.
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