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For 2024, the standard deduction amount has been increased for all filers If you prepare your tax return on paper, use Form 1040 to calculate your taxable income
2025 Standard Deduction Mfj Over 65 Astra Candace If you prepare your tax return on paper, use Form 1040 to calculate your taxable income Each year, the IRS adjusts standard deduction amounts for inflation (similar to its tax rate brackets, maximum 401K and maximum IRA contribution levels, etc.) For tax year 2025, the top tax rate remains 37% for individual single taxpayers with incomes greater than $626,350 ($751,600 for married couples filing jointly).
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