Single Filer Standard Deduction 2024. The 2024 tax brackets apply to income earned this year, which is reported on tax returns filed in 2025. Here’s how that works for a single person earning $58,000 per year:
In tax year 2024, the standard deductions are as follows: Seniors over age 65 may claim an additional standard deduction.
$14,600 For Married Couples Filing.
The 2024 standard deduction is $14,600 for single filers, $29,200 for joint filers and $21,900 for heads of household.
When The 2017 Tax Cuts And Jobs Act Nearly Doubled The Standard Deduction In 2018, Many Taxpayers Stopped Itemizing On Their.
Seniors over age 65 may claim an additional standard deduction.
$1,550 For Married Couples Filing Jointly,.
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Here Are The Standard Deduction Amounts Set By The Irs:
$14,600 for married couples filing.
The Standard Deduction For Married Couples Is Also Increasing 5.4% In 2024 To $29,200, An Increase Of $1,500 From 2023.
There are seven income tax rates for the 2024 tax year, ranging from 10% to 37%.
In Tax Year 2024, The Standard Deductions Are As Follows: