Standard Deduction 2024 Married Jointly. For the 2023 tax year, which is filed in early 2024, the federal standard deduction for single filers and married folks filing separately was $14,600. Each year, the irs adjusts the standard deduction, tax brackets, and other tax breaks to compensate for inflation.

The standard deduction for married couples filing jointly for tax year 2024 will rise to $29,200, an increase of $1,500 from tax year 2023. The additional standard deduction for age 65 is larger in the single filing status than the additional standard deduction per person for age 65 in married filing.