Standard Deduction 2024 Married Filing Joint

Standard Deduction 2024 Married Filing Joint. Joint and single filers can deduct interest on up to $750,000 of qualified loans, whereas married, filing separately taxpayers are capped at $375,000. Here’s how that works for a single person with taxable income of $58,000 per year:

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 couples. Married couples filing jointly will see a deduction of $29,200, a boost of $1,500 from 2023, while heads of household will see a jump to $21,900 for heads of household, an increase of $1,100 from.