What Is The Standard Deduction For 2024 Mfj . The irs has established updated standard deductions based on the newly announced tax brackets: $14,600 for married couples filing.
Per the irs, the standard deduction amount for tax year 2023 (filed in 2024) is $13,850 for single filers, $27,700 for married couples and $20,800 for heads of. The standard deduction is a fixed dollar amount you may subtract from your taxable income โ meaning more of your money isnโt subject to taxes โ resulting.
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