What Is The Irs Standard Deduction For 2024. The standard deduction changes each year to account for inflation. If you're married, filing jointly or separately, the extra standard deduction amount was $1,500 per qualifying individual.

For the tax year 2024, the standard deduction for married couples filing jointly will increase to $29,200, an increase of $1,500 over the tax year. The standard deduction is a specific dollar amount that reduces the amount of income on which you’re taxed.