2024 Standard Deduction Married Filing Joint Account

2024 Standard Deduction Married Filing Joint Account. The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year. The standard deduction for single filers and for married people who file separate returns rises to $14,600, up $750 from 2023;

The threshold phaseout amounts and the completed phaseout amounts shown in the table below for married taxpayers filing a joint return include the increase. Your filing status changes from married filing jointly (or qualifying surviving spouse) to head of household or single (or married filing separately) or from head of household.