2024 Tax Rates And Deductions For Single. 2024 and 2023 income tax thresholds for single filers. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025.
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 2023 and 2024, there are seven federal income tax rates and brackets: