Federal Standard Deduction (2024)

Quick Reference

Standard Deduction Amounts (2024)

By Filing Status: - Single: $14,600 - Married Filing Jointly: $29,200 - Married Filing Separately: $14,600 - Head of Household: $21,900 - Qualifying Surviving Spouse: $29,200

Additional Standard Deduction (Age 65+ or Blind)

Single or Head of Household: - Age 65 or older: add $1,950 - Blind: add $1,950 - Both age 65+ AND blind: add $3,900

Married Filing Jointly or Qualifying Surviving Spouse: - Age 65 or older: add $1,550 per qualifying spouse - Blind: add $1,550 per qualifying spouse - Both spouses age 65+ AND blind: add $6,200 total

Married Filing Separately: - Age 65 or older: add $1,550 - Blind: add $1,550 - Both age 65+ AND blind: add $3,100

Dependent Standard Deduction

For individuals who can be claimed as a dependent:

Earned Income Only: - Earned income + $450 (minimum $1,300)

Unearned Income Only: - $1,300

Both Earned and Unearned: - Greater of: - Earned income + $450, OR - $1,300 - Cannot exceed regular standard deduction for filing status

Standard Deduction Not Available

Taxpayer must itemize if: - Married Filing Separately and spouse itemizes - Filing for period less than 12 months due to accounting period change - Nonresident alien or dual-status alien (with exceptions)

Details

Choosing Between Standard and Itemized Deduction

Taxpayers can choose the greater of: - Standard deduction for their filing status, OR - Total itemized deductions (Schedule A)

When to Itemize:

Generally beneficial when total itemized deductions exceed standard deduction.

Common scenarios where itemizing makes sense: - High state and local taxes (SALT), though limited to $10,000 - Significant mortgage interest - Large charitable contributions - High medical expenses (over 7.5% of AGI) - Casualty losses from federally declared disasters

When Standard Deduction Usually Better: - Taxpayer owns home with minimal or no mortgage - Low state income tax state (or no income tax like FL, TX, WA) - Few charitable contributions - No significant medical expenses or other deductible expenses

Bunching Strategy: - Some taxpayers alternate years: itemize one year, standard deduction the next - Bunch deductible expenses into itemizing years (e.g., make 2 years of charitable contributions in 1 year) - Particularly useful with charitable contributions via donor-advised funds

Age 65 Determination

Taxpayer is considered age 65 on the day before their 65th birthday.

Example: Taxpayer born on January 1, 1960 is considered age 65 on December 31, 2024 (day before 65th birthday).

This matters for additional standard deduction eligibility.

Blindness Definition

IRS definition requires certification that: - Taxpayer cannot see better than 20/200 in better eye with corrective lenses, OR - Field of vision is 20 degrees or less

Must have certification from eye doctor (ophthalmologist or optometrist).

Partially blind does not qualify for additional standard deduction.

Dependent Earned vs. Unearned Income

Earned Income: - Wages, salaries, tips - Self-employment income - Taxable scholarship or fellowship grants (if reported as wages)

Unearned Income: - Interest, dividends - Capital gains - Unemployment compensation - Taxable Social Security benefits - Pension and annuity income - Distributions from retirement accounts

Kiddie Tax: Dependent children with unearned income over $2,600 (2024) may be subject to kiddie tax (unearned income taxed at parent's marginal rate).

Married Filing Separately - Special Rule

If one spouse itemizes deductions, the other spouse MUST itemize (cannot claim standard deduction).

This is even if the non-itemizing spouse would benefit more from standard deduction.

Reason: Prevents couples from double-dipping (one spouse itemizing certain deductions while other claims standard deduction).

Standard Deduction for Estates and Trusts

Estates and trusts cannot claim standard deduction (with limited exceptions for certain types of trusts).

They can claim deductions for: - Distributable net income (DNI) distributed to beneficiaries - Expenses of administration - Charitable contributions (limited)

Impact of Tax Cuts and Jobs Act (TCJA)

TCJA (2018-2025) approximately doubled standard deduction amounts:

Pre-TCJA (2017): - Single: $6,350 - MFJ: $12,700 - MFS: $6,350 - HOH: $9,350

Post-TCJA (2024, inflation-adjusted): - Single: $14,600 - MFJ: $29,200 - MFS: $14,600 - HOH: $21,900

Result: Far fewer taxpayers itemize (estimated 90%+ now take standard deduction vs. 70% pre-TCJA).

Sunset Provision: Unless extended, standard deduction amounts will revert to pre-TCJA levels (inflation-adjusted) beginning in 2026.

State Differences

Many states use federal standard deduction, but some differ:

• Some states don't allow standard deduction at all (require itemizing)
• Some states have different standard deduction amounts
• Some states require itemizing if federal return itemizes

Always check state-specific rules when preparing state returns.

Citations

Internal Revenue Code: - IRC § 63 - Taxable Income Defined (defines standard deduction) - IRC § 63(c) - Standard Deduction - IRC § 63(c)(1) - Amount of standard deduction - IRC § 63(c)(3) - Additional amounts for aged and blind - IRC § 63(c)(5) - Limitation on standard deduction for dependents - IRC § 63(f) - Itemized deductions (election to itemize) - IRC § 1(g) - Kiddie Tax

IRS Revenue Procedures: - Rev. Proc. 2023-34 (November 2023) - 2024 inflation adjustments

IRS Publications: - Publication 17 - Your Federal Income Tax (For Individuals) - Publication 501 - Dependents, Standard Deduction, and Filing Information - Publication 529 - Miscellaneous Deductions

IRS Forms: - Form 1040 and Instructions - US Individual Income Tax Return - Schedule A and Instructions - Itemized Deductions