Standard Tax Deduction 2024 Married Jointly

Standard Tax Deduction 2024 Married Jointly. You pay tax as a percentage of your income in layers called tax brackets. For the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing separately, $27,700 for married.

And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025.