2024 Standard Tax Deduction Amount. If you can be claimed as a dependent, you have a different standard. Each year, the irs adjusts standard deduction amounts for inflation (similar to its tax rate brackets, maximum 401k.

 — for the 2023 tax year, which is filed in early 2024, the federal standard deduction for single filers and married folks filing separately was $14,600. The irs has released its 2024 standard deduction amounts.

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