2024 Standard Tax Deduction Amount . For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for heads of household. Also, standard deduction limit for.
If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to $61,150. Here are the projected standard deduction amounts for 2024:
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