2024 Standard Tax Deduction Amount 2024 . In a bid to give a boost to salaried taxpayers, finance minister nirmala sitharaman on tuesday increased the standard deduction limit from 50,000 to 75,000. And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the.
If you’re married, filing jointly or separately, the extra standard deduction amount was $1,500 per qualifying individual. 2024 federal income tax brackets and rates in 2024, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (table 1).
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