2024 Standard Tax Deduction Married Jointly. And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of. How much is the standard deduction for 2024?

For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; This means that if your taxable income is less than $27,700, you will not owe any taxes.