What Is The Standard Deduction For 2024-25. 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. This has been increased to rs.
The standard deduction for married couples filing jointly was $29,200 in 2024, while heads of household saw a $21,900 standard deduction in 2024. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).
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