What Is The Standard Deduction For 2024 Irs. The standard deduction for taxpayers who don't itemize their deductions on schedule a (form 1040) is higher for 2023 than it was for 2022. For example, the irs standard deduction 2024 for married.
Itโs the simplest way to reduce your taxable income on your tax return. People who are age 65 and over have a higher standard deduction than the basic standard deduction.