2024 Standard Deduction Married

2024 Standard Deduction Married. 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 2023. Read on to learn what a higher standard.

A married couple filing their 2023 tax return jointly with an adjusted gross income of $125,000 is entitled to a standard deduction of $27,700. An analysis by the tax policy center in 2018 found that in the early years, the top 1% of income earners would get 20% to 25% of the tax cut benefits.