What Is The Irs Standard Deduction For 2024. While the actual percentages of the tax brackets will remain the same until 2025 because of the tax cuts and. Your standard deduction consists of the sum of the basic standard deduction and any additional standard deduction amounts for age and/or blindness.

Single taxpayers and married individuals filing separately will have a standard deduction of $14,600, an increase of $750 from the current tax year. I noticed in this month’s tax sheet that the standard deduction is still ₹50,000.