Hoh Standard Deduction 2024. The standard deduction rose in 2024. The standard deduction is a fixed amount you can deduct from your taxable income that is adjusted every year to keep up with inflation.
Single or married filing separately (mfs) $14,600; The additional standard deduction amount for 2024 (returns usually filed in early 2025) is $1,550 ($1,950 if unmarried and not a surviving.