Standard Deduction For 2024 Tax Year 2024. Seniors over age 65 may claim. Also, standard deduction limit for family.
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. For 2024 (tax returns typically filed in april 2025), the standard deduction amounts are $14,600 for single and for those who are married, filing separately;