What Is The Standard Deduction For 2024 Hoh. You can use the 2023 standard deduction tables near the end of this publication to figure your standard deduction. If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to $61,150.

The irs adjusts the standard deduction each year for inflation. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;