What are the new standard deduction amounts for 2024? Your standard deduction depends on your filing status, age and whether a taxpayer is blind.
Even if you knew every last deduction (and that would make you a tax accountant or a weirdo!), you’d still only know half the story. The new amounts are as follows:
Today, We Will Explain Away One Piece Of The Tax Puzzle:
(returns normally filed in 2025) standard deduction amounts increased between $750 and $1,500 from 2023.
For The 2024 Year, The Standard Deduction For Married Couples Filing Jointly Will Rise To $29,200, An Increase Of $1,500 From Tax Year 2023, According To The Irs.
More stories on income tax returns
Images References :
Your Standard Deduction Depends On Your Filing Status, Age And Whether A Taxpayer Is Blind.
For individuals, the new maximum will be $14,600 for 2024, up from $13,850, the irs said.
More Stories On Income Tax Returns
For the 2024 year, the standard deduction for married couples filing jointly will rise to $29,200, an increase of $1,500 from tax year 2023, according to the irs.