2024 Standard Deduction Mfj. The standard deduction is a specific dollar amount that reduces the amount of income on which you're taxed. If you expect to claim the standard deduction on your 2024 tax return, enter the amount on line 2a.

The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). As your income goes up, the tax rate on the next.