Claire Carline

What Is The Standard Deduction For 2024 Hoh. It’s the simplest way to reduce your taxable income on your tax return. The standard deduction in 2024 is $14,600 for individuals, $29,200 for joint filers, and $21,900 for heads of households.

The standard deduction for taxpayers who don’t itemize their deductions on schedule a (form 1040) is higher for 2023 than it was for 2022. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).