Standard Deduction For 2024 Tax Year. The standard deduction is a specific dollar amount that reduces the amount of income on which you're taxed. The standard deduction for tax year 2024 is $14,600 for singles, $29,200 for joint filers and $21,900 for heads of household.

If you’re a single filer, you’ll. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;