How Much Is The Standard Deduction For 2024. You can claim a standard deduction to reduce your taxable income as well as an additional deduction if you are age 65 or older and/or blind. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750 from 2023.


How Much Is The Standard Deduction For 2024

For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; Federal income tax rates and brackets.

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