Please check your actual tax return. You may already have the Standard deduction.
From the left sidebar
- Select Tax tools
- Hint: You may have to minimize the Federal and State selections
- Click Tools
- A Menu will pop up
- Select View tax summary
- On the left panel click Preview my 1040
- Deduction is on line 12
Some Key numbers to compare:
- 11 Adjusted Gross Income
- 12 Deductions
- 15 Taxable income
- 16 Tax
- 33 Total Payments
- 34 Overpayment
- 35a Refund
- 37 Amount you owe
The standard deduction for taxpayers who do not itemize deductions on Form 1040, Schedule A, has increased.
The standard deduction amounts for 2024 are:
- $29,200 – Married Filing Jointly or Qualifying Surviving Spouse (increase of $1,500)
- $21,900 – Head of Household (increase of $1,100)
- $14,600 – Single or Married Filing Separately (increase of $750)
Taxpayers who are 65 and Older or are Blind
For 2024, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:
- $1,950 for Single or Head of Household (increase of $100)
- $1,550 for married taxpayers or Qualifying Surviving Spouse (increase of $50)
Dependents
For 2024, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of (1) $1,300, or (2) the sum of $450 and the individual's earned income.
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