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2024 Standard Deduction Amount Irs. Standard deduction amounts (2024) kelly phillips erb also, for 2024, it's predicted that the standard deduction for an individual who may be claimed as a dependent by another taxpayer. The standard deduction rose in 2024.

Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers. The standard deduction, which reduces the amount of income you must pay taxes on, is claimed by a majority of taxpayers.