What Is The Standard Deduction For 2024 Mfj

What Is The Standard Deduction For 2024 Mfj. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed. You deduct an amount from your income before you calculate taxes.

You don’t pay federal income tax on every dollar of your income. $14,600 for married couples filing separately;