Standard Tax Deduction 2024 Married Jointly Meaning

Standard Tax Deduction 2024 Married Jointly Meaning. 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. Married couples filing jointly can claim an amount that's twice as large, $27,700, and taxpayers filing as head of household (unmarried individuals with.

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. Find out which expenses you can claim as income tax deductions and work out the amount to claim.