Standard Deduction 2024 Single Person. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750. The standard deduction for salaried individuals reduces your taxable income by a fixed amount, thereby lowering the total income on which you are taxed.
The standard deduction for salaried individuals reduces your taxable income by a fixed amount, thereby lowering the total income on which you are taxed. In 2024, the standard deduction ranges from $14,600 to $29,200.
Standard Deduction 2024 Single Person Images References :