Standard Deduction For 2024 Indiana. The tax cuts and jobs act (tcja) increased the standard deduction (set at $14,600 for single filers and $29,200 for joint filers in 2024) while suspending the personal exemption by reducing it to $0 through 2025. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;

Seniors over age 65 may claim an additional standard deduction of $1,950 for. On may 4, 2023, indiana governor eric holcomb signed into law hb 1001, which, starting in 2024, accelerates the personal income tax cuts passed in 2022 under hb 1002 and eliminates.