Standard Deduction 2024 Irs. Standard deduction amounts (2024) kelly phillips erb also, for 2024, it's predicted that the standard deduction for an individual who may be claimed as a. For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for heads of household.

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 internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, it’s possible you could fall into a lower bracket.