How Much Is The Standard Deduction For 2024 . You don’t pay federal income tax on every dollar of your income. 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.
The deduction set by the irs for the 2024 tax year is as follows: If you’ve closed on a mortgage on or after jan.
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