2024 Tax Standard Deduction Amount 2024. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).
Subtract the standard deduction of $2,340 from annualized gross pay in step 4 to determine annual net taxable income. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025.
2024 Tax Standard Deduction Amount 2024 Images References :