How Much Is The Standard Deduction For 2024. $14,600 for married couples filing. A deduction reduces the amount of a taxpayer's income that's subject to tax, generally reducing the amount of tax the individual may have to pay.

 — for example, if the tcja expires as under current law, the standard deduction for a married couple will be approximately $16,525 in 2026, while the personal. (applause.) good afternoon, north hampton!