Irs 2024 Standard Deductions And Tax Brackets. You will pay 10 percent on taxable income up to $11,600, 12 percent on the amount over $11,600 to $47,150, and 22 percent above that (up to $100,525). The standard deduction for a single person will go up from $13,850 in 2023 to $14,600 in 2024, an increase of 5.4%.
In tax year 2024, the standard deductions are as follows: Single or married filing separately: