2024 Standard Deduction For Married Couples Over 60

2024 Standard Deduction For Married Couples Over 60. For filing taxes next year on 2024 income, the standard deduction will increase to $30,000 for married couples and $15,000 for single taxpayers, the irs announced tuesday. For heads of households, the standard deduction will be $22,500.

This means you can simply reduce your taxable income by $27,700 by claiming the standard deduction. For individuals who are earning over $418.4k, their tax rate will be 39.6%.