Standard Tax Deduction 2024 Married Jointly Single
Standard Tax Deduction 2024 Married Jointly Single. Your bracket depends on your taxable income and filing status. For the 2023 tax year, which is filed in early 2024, the federal standard deduction for single filers and married folks filing separately was $14,600.
Here’s how that works for a single person earning $58,000 per year: Married individuals filing jointly get double that allowance, with a standard deduction of $29,200 in 2024.