What Is The Standard Deduction For 2024 Taxes

What Is The Standard Deduction For 2024 Taxes. The standard deduction is a fixed amount that. The amount, set by the irs, could vary by tax year and.


What Is The Standard Deduction For 2024 Taxes

For example, a single taxpayer earning us$40,000 a year and who had no children in the 2024 tax year would qualify for a standard deduction of $14,600. The standard deduction is rising by about $400 for individual taxpayers and people who are married but file taxes separately in 2025.

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