Standard Deduction 2024 Filing Jointly

Standard Deduction 2024 Filing Jointly. The top tax rate will remain. You pay tax as a percentage of your income in layers called tax brackets.

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. For taxpayers who are married and filing jointly, the standard deduction for the 2024 tax year was increased to $29,200, up $1,500 from 2023.