2024 Standard Tax Deduction Chart For Seniors. See current federal tax brackets and rates based on your income and filing status. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).
Standard deductions for 2024 the 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year. For 2024, that extra standard deduction is $1,950 if you are single or file as head of household.