2024 Standard Tax Deduction Amount Per Person

2024 Standard Tax Deduction Amount Per Person. You can take the standard deduction or you can itemize your deductions. You deduct an amount from your income before you calculate.

For the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing separately, $27,700 for married. A deduction reduces the amount of a taxpayer’s income that’s subject to tax, generally reducing the amount of tax the individual may have to pay.