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For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older OR blind are: $1,850 for single or head of household. $1,500 for married taxpayers (per qualifying ...
Here are 11 tax deductions senior citizens should know about. ... is increased for those age 65 or older. For tax year 2023, the addition to the standard deduction for individuals 65 and older is ...
The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for married filing jointly if only one partner is over 65 (or $28,700 if both are), and ...
The standard deduction may be higher than the basic standard deduction if any of the following conditions are met: The taxpayer is 65 years of age or older. [22] The taxpayer's spouse is 65 years of age or older. [23]
Here are additional 2024 standard deductions for those over 65 showing the IRS’s tax inflation adjustments: Joint filers and surviving spouses can deduct an additional $1,550 per person over 65.
This year, the standard deduction is $12,950 for those filing single or married filing separately. ... Individuals who are 65 or older and those who are blind can claim an additional $1,750 for ...
A single filer over 65 gets an extra $1,750 deduction, a couple filing jointly gets an extra $1,400 for each partner who is 65 or older. So if only one spouse is 65 or older, the extra deduction ...
For the 2024 tax year, Hawaii’s standard deduction doubles to $4,400 for single filers and $8,800 for married couples filing jointly. ... and a $10,000 deduction for seniors ages 65 and older ...