2024 Standard Deduction Amount Irs. The standard deduction is a specific dollar amount that reduces the amount of income on which you're taxed. The 2024 standard deduction for couples married filing jointly is $ $29,200 (up $1,500 from tax year 2023).

In 2024, the irs says we’ll see a roughly 5.4% increase. The irs has released the standard deduction amounts for 2024, which increase the amounts that will be available on 2023 tax returns.