What Is The Standard Deduction For 2024 Taxes. Property owners will now have to pay more tax as budget 2024 plugs loophole income arising from any kind of rentals from house property shall be taxed. The standard deduction for tax year 2024 is $14,600 for singles, $29,200 for joint filers and $21,900 for heads of household.

Taxpayers who are 65 and older, or are blind, are eligible for an additional. The recent amendment to the finance bill, which offers the choice of a 20% ltcg tax with indexation or a 12.5% tax without indexation for property deals before 23.