Standard Deduction 2024 Irs 2024

Standard Deduction 2024 Irs 2024

Standard Deduction 2024 Irs 2024. For the 2023 tax year, the additional standard deduction amounts are $1,850 for single filers or heads of household and $1,500 for married filers or qualifying widow(er)s. The 2024 standard deduction amounts are as follows:


Standard Deduction 2024 Irs 2024

It will rise to $29,200, up from $27,700 in 2024 for married couples filing jointly, amounting to a 5.4% bump. You pay tax as a percentage of your income in layers called tax brackets.

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