Standard Deduction 2024 Single Taxpayer Over 65. The standard deduction for those over age 65 in tax year 2023 (filing in 2024) is $15,700 for singles, $29,200 for married filing jointly if only one partner is over 65 (or $30,700 if both are. If you are blind, you will be able to increase the standard deduction by $1,500 (or $1,850 if single or filing as head of household).
Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers. The additional standard deduction amount for 2024 is $1,550 ($1,950.
What Is The Extra Standard Deduction For Seniors Over 65 In 2024?
Standard deduction 2024 over 65.
How Much Is The Additional Standard Deduction?
If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to $61,150.
Married Filing Jointly, One Person Age 65 And Over:
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The Additional Standard Deduction For People Who Have Reached Age 65 (Or Who Are Blind) Is $1,550 For Each Married Taxpayer Or $1,950 For Unmarried Taxpayers.
For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;
$1,850 For Single Or Head Of Household
For 2023, the standard deduction amount has been increased for all filers.
The Additional Standard Deduction Amount For 2024 Is $1,550 ($1,950.