Standard Deduction 2024 Head Of Household Irs

Standard Deduction 2024 Head Of Household Irs. The head of household status provides a larger standard deduction and better tax rates for calculating federal income tax. For 2024, the standard deduction amount has been increased for all filers, and the amounts are as follows.

For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; The standard deduction is a specific dollar amount that reduces the amount of income on which you’re taxed.