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Now, if you are 65 or older and blind, the extra standard deduction for 2024 is $3,900 if you are single or filing as head of household. It's $3,100 per qualifying individual if you are married...
Standard Deduction Amounts. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750 from 2023.
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)...
The IRS has released the standard deduction amounts for the 2024-2025 tax year. Find the new rates and information on extra benefits for people over 65.
For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; and for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023.
The standard deduction amounts for 2024 are $14,600 for single filers, $29,200 for joint filers, and $21,900 for heads of household. People 65 or older may be eligible for a higher amount.
Seniors struggling to make ends meet may save some money when they do their 2023 taxes by claiming the extra tax deduction. Here's how it works.