Standard Deduction For 2024 And 2024 For Seniors . 29, 2024 โ the internal revenue service successfully opened the 2024 tax season today by accepting and processing federal individual tax returns as the. Both the interest earned on saving deposits and fixed deposits are eligible for deduction under this provision.
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. The additional standard deduction amount for 2024 (returns usually filed in early 2025) is $1,550 ($1,950 if unmarried and not a surviving spouse).
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