2024 Standard Deduction Mfj. In 2024, it is $14,600 for single taxpayers and $29,200 for married taxpayers filing jointly, slightly increased from. For the 2024 tax year (filed in 2025), the irs has set the standard deduction as follows:
The standard deduction is a specific dollar amount that reduces the amount of income on which you’re taxed. The irs has released the standard deduction amounts for 2024, which increase the amounts that will be available on 2023 tax returns.