2024 Irs Standard Deduction Amount. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).

Your standard deduction consists of the sum of the basic standard. The additional standard deduction amount increases to $1,950 for unmarried taxpayers.