2024 Standard Deduction Irs. The standard deduction is the fixed amount the irs allows you to deduct from your annual income. When filing your taxes, you can choose to claim the standard deduction or to itemize your deductions.

 — the standard deduction for couples filing jointly is $29,200 in 2024, up from $27,700 in the 2023 tax year. For married couples who file jointly, it will.