2024 Standard Deduction Married Joint Account. The additional standard deduction amount will increase to $1,950 if the individual is. Here’s how that works for a single person earning $58,000 per year:

The new standard deduction for married couples filing jointly will rise to $29,200, an increase of $1,500 from the current tax year. The 2024 standard deduction is presented below for 4 of the most common filing statuses.