Standard Deduction 2024 Single Filers. For the 2024 tax year, the adjusted gross income (agi) amount for joint filers to determine the reduction in the lifetime learning credit is $160,000; Also, deduction on family pension for.

Higher standard deduction for taxpayers under new tax regime. For the 2023 tax year, which is filed in early 2024, the federal standard deduction for single filers and married folks filing separately was $14,600.