Standard Deduction For 2024 Single Filer. People who are age 65 and over have a higher standard deduction than. The standard deduction amounts increase for the 2024 tax year — which you will file in 2025.

The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year. The notice reminds taxpayers that (1) the business standard mileage rate cannot be used to claim an itemized deduction for unreimbursed employee travel.