2024 Standard Deduction Amount Irs

2024 Standard Deduction Amount Irs. The basic standard deduction in 2024 and 2025 are: It will rise to $29,200, up from $27,700 in.

Since passed in late 2017, millions of returns have claimed the deduction, growing from 18.7 million returns in 2018 to 25.9 million returns in 2021, according to. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).