Standard Deduction For 2024 Irs
Standard Deduction For 2024 Irs . The standard deduction is a specific dollar amount that reduces the amount of income on which you're taxed. For individuals, the new maximum will be $14,600.
It will rise to $29,200, up from $27,700 in 2024 for married couples filing jointly, amounting to a 5.4% bump. It answers some basic questions:
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