How Much Is Standard Deduction 2024 Single. The standard deduction for a single person will go up from $13,850 in 2023 to $14,600 in 2024, an increase of 5.4%. Read on to learn what a higher.
With our tax system, your income is reduced by your deductions. For 2024, that extra standard deduction is $1,950 if you are single or file as head of household.