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The standard deduction for taxpayers who do not itemize deductions on Form 1040, Schedule A, has increased. The standard deduction amounts for 2024 is:
$29,200 – Married Filing Jointly or Qualifying Surviving Spouse (increase of $1,500)
For 2024, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:
$1,550 for married taxpayers or Qualifying Surviving Spouse (increase of $50)
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