How Much Is The Standard Deduction For 2024. According to official information from the irs, the standard deduction amounts for tax year 2023 are the following: One spouse 65 or blind:
(returns normally filed in 2025) standard deduction amounts increased between $750 and $1,500 from 2023. How much is the standard deduction for 2024?
One Spouse 65 And Blind:
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Your Standard Deduction Depends On Your Filing Status, Age And Whether A Taxpayer Is Blind.
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What Is The Standard Deduction For 2024?
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The 2023 Standard Deduction For Tax Returns Filed In 2024 Is $13,850 For Single Filers, $27,700 For Joint Filers Or $20,800 For Heads Of Household.
The average income tax rate in 2021 was 14.9 percent.
As Noted Earlier, The Standard Deduction Amounts Are Adjusted Annually To Account For Inflation.
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People Should Understand Which Credits And Deductions They.