How Much Is The Standard Deduction For 2024 Schrikkeljaar. The standard deduction is determined by your filing status (single, married, head of household, etc.) and is adjusted annually for inflation. The standard deduction for a single person will go up from $13,850 in 2023 to $14,600 in 2024, an increase of 5.4%.

The standard deduction for single taxpayers and married individuals filing separately will be $14,600, up $750 over 2023. The irs standard deduction 2024 has been increased for all the statuses and below table will inform you about the rates of.