2024 Taxes Standard Deduction. The amount is determined by congress and meant to keep up with inflation. In 2024, it is $14,600 for single taxpayers and $29,200 for married taxpayers filing jointly, slightly.
Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550. The 2024 standard deduction amounts are as follows: