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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 is a fixed deduction that varies depending on your filing status, age and dependent status. This year, the standard deduction is $12,950 for those filing single or married ...
For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older OR blind are: ... A married couple of two 65+ adults would take a total deduction of $27,700 ...
The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700, up $1,800 from 2022. For single taxpayers and married individuals filing separately, the standard ...
For tax year 2023, the addition to the standard deduction for individuals 65 and older is $1,850 for single filers and $1,500 each for married taxpayers. ... a total of $200,000 can be transferred ...
The deduction is doubled for taxpayers who qualify as both blind and at least 65. For the 2025 tax year, the standard deduction will be: $30,000 for married couples filing jointly, up $800 from 2024