What Is The Standard Deduction For 2024 Joint. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed.

The additional standard deduction amount will increase to $1,950 if the individual is unmarried and. For those filing head of household, the standard deduction will be $21,900 for tax year 2024 (up $1,100 from tax year.