What Is The Current Standard Deduction 2024. Here are the standard deduction amounts set by the irs: You deduct an amount from your income before you calculate.
The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year. And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of.