Standard Deduction For 2024 Income Tax. These are not the tax rates and other numbers for 2023 (you'll find the official. The standard deduction is a specific dollar amount that reduces the amount of income on which you're taxed.

If you are 65 or older and blind, the extra standard deduction for 2024 is $3,900 if you are single or filing as head of household. For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for heads of household.