Standard Deduction For 2024 And 2024

Standard Deduction For 2024 And 2024. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750 from 2023. If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to.

The standard deduction was hiked from rs 50,000 to rs 75,000. The irs released the 2024 standard deduction amounts for returns normally filed in april 2025.