Standard Deduction 2024 Head Of Household Vs Single. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; The 2023 standard deduction is $13,850 for taxpayers filing as single or married filing separately ($20,800 if you’re filing as head of household), $27,700 for taxpayers filing.
That deduction applies to income earned in 2024, which is reported to. Head of household filing status has two main advantages over filing single or married filing separately—more of your taxable income falls under lower tax brackets and you get a higher standard deduction.
Standard Deduction 2024 Head Of Household Vs Single Images References :