Standard Deduction 2024 Mfj. The irs released the 2024 standard deduction amounts for returns normally filed in april 2025. For the 2023 tax year, which is filed in early 2024, the federal standard deduction for single filers and married folks filing separately was $14,600.
The 2024 standard deduction is $14,600 for single filers, $29,200 for joint filers and $21,900 for heads of household. The standard deduction is a specific dollar amount that reduces the amount of income on which you’re taxed.