Standard Tax Deduction 2024

Standard Tax Deduction 2024. 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 standard deduction of rs 50,000 is a flat deduction available under both the old and new tax regimes, to individuals earning salary and pension.


Standard Tax Deduction 2024

The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750. How much is the standard deduction for 2024?

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