Standard Deduction 2024 Irs. If you’re filing as single or married filing separately, you can deduct $13,850 for tax year 2023 (and $14,600 for tax year. The internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, it’s possible you could fall into a lower bracket for the income you earn in 2024.

If you’re filing as single or married filing separately, you can deduct $13,850 for tax year 2023 (and $14,600 for tax year. $29,200 for married individuals filing jointly and surviving spouses, $21,900 for heads of households, and;