What Is Standard Tax Deduction For 2024. The standard deduction is a flat dollar amount set by the irs based on your filing status. The standard deduction will rise to $14,600 for single taxpayers, a $750 increase, the agency announced thursday.

The standard deduction for tax year 2024 is $14,600 for singles, $29,200 for joint filers and $21,900 for heads of household. The irs released the 2024 standard deduction amounts for returns normally filed in april 2025.