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You do not have to select standard deduction. You get standard deduction automatically unless you do something to force itemizing your deductions or enter enough itemized deductions to exceed your standard deduction.
The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.
2024 STANDARD DEDUCTION AMOUNTS
SINGLE $14,600 (65 or older/legally blind + $1950)
MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)
MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)
HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)
The Standard Deduction is the default. Your total Itemized Deductions must be greater than the Standard Deduction for your filing status to have any tax benefit.
Standard deductions for 2024
Single - $14,600 add $1,950 if age 65 or older
Married Filing Separately - $14,600 add $1,550 if age 65 or older
Married Filing Jointly - $29,200 add $1,550 for each spouse age 65 or older
Head of Household - $21,900 add $1,950 if age 65 or older
Why do you need the Standard Deduction or think you're not getting it? What is it giving you? What is your filing status? If you are Married filing Separate and your spouse itemizes then you must itemize also even if it's less than the Standard Deduction.
If you are a dependent then your Standard Deduction can be less.
The 2024 Standard Deduction for an individual for whom an exemption can be claimed on another person's tax return is limited to the greater of:
…..Your unearned income was more than $1,300 or
…..Your earned income for the year + $450 (but not more than 14,600)
So you would get a minimum of $1,300 to a max of 14,600.
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