2024 Standard Deduction Married Filing Joint Return. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025. The tax year 2024 adjustments described below generally apply to income tax.
The standard deduction is increasing to $29,200 for married couples filing together and $14,600 for single taxpayers. If you’re married, filing a joint return with your spouse could qualify you for a lower tax bracket.