What Is The Standard Deduction For 2024 For Seniors

What Is The Standard Deduction For 2024 For Seniors. For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an.

The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). If you don’t itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year.