What Is The Standard Deduction For 2024 Taxes. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; In 2024, for example, single taxpayers and married taxpayers who file separate returns can claim a $14,600 standard deduction.
A deduction reduces the amount of a taxpayer’s income that’s subject to tax, generally reducing the amount of tax the individual may have to pay. Publication 17 (2023), your federal income tax
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