Standard Deduction 2024

Standard Deduction 2024. You deduct an amount from your income before you calculate taxes. If you’re at least 65 years old or considered legally blind at the end of 2024, you’re entitled to an additional standard deduction for the 2024 tax year in the following dollar.

The top marginal tax rate in tax year 2024, will remain. Standard deduction amounts the standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750.