Ashla Norrie

2024 Income Tax Brackets And Rates. Your standard deduction — the amount you can use as a deduction on your 1040 tax return without itemizing — will also be higher. Now, with the stcg tax rate on arbitrage funds at 20%, it will eat into arbitrage gains.

As your income goes up, the tax rate on the next layer of income is higher. Here’s a breakdown that will show the differences between tax year 2023 (filed by april 15, 2024) and tax year 2024 (filed by.