Standard Deduction For 2024 Single Student. The standard deduction for taxpayers who don't itemize their deductions on schedule a (form 1040) is higher for 2023 than it was for 2022. Your standard deduction consists of the sum of the basic standard deduction and any additional standard deduction amounts for age and/or blindness.

Students who are single and earned more than the $13,850 standard deduction in tax year 2023 must file an income tax return. The standard deduction is $13,850 for single filers and $27,700 if you’re married filing jointly in tax year 2023.