Standard Tax Deduction 2024 Married Jointly Meaning. For the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing separately, $27,700 for married couples. For the tax year 2024, the top tax rate is 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).
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. A married couple filing their 2024 tax return jointly with an adjusted gross income of $125,000 is entitled to a standard deduction of $29,200.