Standard Tax Deduction 2024 Single. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). Section 63(c)(2) provides the standard deduction for use in filing individual income tax returns.

The standard deduction rose in 2024. The government changed the income tax laws under the new tax regime in the july 2024 budget, increasing its attractiveness compared to the old tax regime.this was.