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So when claiming your standard deduction for 2023, you can take a higher standard deduction amount if you were born before Jan. 2, 1959. ... Additional Standard Deductions for Age and Blindness.
The standard deduction is $24,800 for individuals who are married and filing jointly. ... there is a higher standard deduction for those who are blind. This includes individuals who cannot see 20/ ...
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 ...
Use your bigger standard deduction: If you’re 65 or older and you don’t itemize deductions, you are entitled to a higher standard deduction. A single filer over 65 gets an extra $1,750 ...
Standard deduction in 2023 70-year-old single individual $13,850 + $1,850 = $15,700 40-year-old single individual who is blind $13,850 + $1,850 = $15,700 Married couple, ages 78 and 80, one of whom is blind $27,700 + $1,500 + $1,500 + $1,500 = $32,200 Dependent who earns $200 in 2023 $1,250 (minimum standard deduction for dependents)
For those 65 or older or blind, the additional standard deduction for married taxpayers or qualified widows(ers) is $1,400, an increase of $50. This applies to tax returns filed in 2023.
While taxpayers will again see higher standard deductions for 2025, the increases announced Tuesday are less than those seen in recent years. In tax adjustments announced last year , for example, the IRS raised single filers’ standard deduction by $750 between the 2023 and 2024 tax years — and by $1,500 and $1,100 for married couples and ...
In 2020, the standard deduction is $12,400 for single taxpayers and $24,800 for married filing jointly. Married taxpayers who are 65 and older can each claim an extra $1,300 standard deduction (or ...