Standard Deduction For 2024 Taxes

Standard Deduction For 2024 Taxes. The 2023 standard deduction is $13,850 for.  — the standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).

 — your standard deduction — the amount you can use as a deduction on your 1040 tax return without itemizing — will also be higher. Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550.