Tax Brackets 2024 Standard Deduction. When former president barack obama left office, the standard deduction for couples filing jointly was $12,650. And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of.
The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year. Changes to tax brackets are a project 2025 idea.