2024 Tax Brackets And Standard Deduction

2024 Tax Brackets And Standard Deduction. 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. For married couples filing jointly, the standard deduction will be $29,200.

The standard deduction for a single person will go up from $13,850 in 2023 to $14,600 in 2024, an increase of 5.4%. New 2024 income tax brackets and a higher standard deduction may mean tax cuts for many americans.