Standard Deduction 2024 Married Jointly 65 Years Old. The standard deduction amounts for 2024 have increased to $14,600 for single filers, $29,200 for joint filers and $21,900 for heads of household. You can use our federal tax brackets calculator to determine how much tax you will pay for the current tax year, or to determine how much tax you have paid in previous tax.

If you and your spouse decide to file a joint return, your tax may be lower than your combined tax for the other filing statuses. 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.