2024 Standard Tax Deduction Married Jointly Meaning. Your itemized deductions need to exceed that dollar amount for itemizing to reduce your tax bill. In 2024, the standard deduction for married couples filing jointly is set at $27,700, which allows couples to reduce their taxable income significantly.

An increased amount will be added to the base single filer standard deduction. The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023.