2024 Standard Deductions And Tax Brackets. People who are age 65 and over have a higher standard deduction than. A standard tax deduction is a specific amount subtracted from your total, taxable income.
The 2024 standard deduction is $14,600 for single filers, $29,200 for joint filers and $21,900 for heads of household. In tax year 2024, the standard deductions are as follows:
