2024 Standard Deductions And Tax Brackets Married Filing Jointly

2024 Standard Deductions And Tax Brackets Married Filing Jointly. In 2024, it is $14,600 for single taxpayers and $29,200 for married taxpayers filing jointly, slightly increased from 2023 ($13,850 and $27,700). The standard deduction for couples filing jointly is $29,200 in 2024, up from $27,700 in the 2023 tax year.

The $10,000 cap on the state and local tax deduction is eliminated. The irs on thursday announced higher federal income tax brackets and standard deductions for 2024.