Standard Deductions

Tax Standard Deductions 2024

Here are the standard deduction amounts for the 2024 tax year, which apply to income earned during 2024 and claimed on tax returns filed in 2025:

• Single: $14,600

  • Additional deduction (65 or older, or blind): $1,950 per condition

• Married Filing Jointly: $29,200

  • Additional deduction (per spouse, 65 or older, or blind): $1,500 per condition

• Head of Household: $21,900

  • Additional deduction (65 or older, or blind): $1,950 per condition

• Married Filing Separately: $14,600

  • Additional deduction (65 or older, or blind): $1,500 per condition

• Qualifying Surviving Spouse: $29,200

  • Additional deduction (65 or older, or blind): $1,500 per condition

Key Notes:

1. Additional Standard Deduction:

   • Taxpayers who are 65 or older or blind are eligible for an additional deduction.

   • For single and head-of-household filers, the additional deduction is $1,950 per condition.

   • For married filers and qualifying surviving spouses, the additional deduction is $1,500 per condition.

2. Dependents:

   • If you can be claimed as a dependent on someone else’s tax return, your standard deduction is the greater of $1,250 or your earned income + $400, up to the regular standard deduction for your filing status.

3. Impact on Taxable Income:

   • The standard deduction reduces your taxable income, meaning you only pay taxes on the remaining amount after the deduction is applied.

The "condition" refers to being 65 or older or being legally blind. Each of these qualifies you for an additional standard deduction. Here's a breakdown:

1. Age 65 or Older:

   • If you are 65 or older by the end of the tax year (December 31, 2024, for the 2024 tax year), you qualify for the additional standard deduction.

2. Blindness:

   • If you are legally blind, as certified by a physician, you qualify for an additional standard deduction.

Example:

• If a single filer is both 65 or older and legally blind, they can claim two additional deductions of $1,950 each, totaling $3,900 added to their standard deduction.

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