Standard deduction
A fixed dollar amount that reduces taxable income, available to all taxpayers as an alternative to itemizing. In 2024, it is $14,600 for single filers and $29,200 for married filing jointly.
A fixed dollar amount that reduces taxable income, available to all taxpayers as an alternative to itemizing. In 2024, it is $14,600 for single filers and $29,200 for married filing jointly.