2024 Standard Tax Deduction Married Jointly. How much is the standard deduction for 2024? 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 tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025. The standard deduction for those over age 65 in tax year 2023 (filing in 2024) is $15,700 for singles, $29,200 for married filing jointly if only one partner is over 65 (or.
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