For the 2023 tax year, which is filed in early 2024, the federal standard deduction for single filers and married folks filing separately was $14,600. In tax year 2024, the standard deductions are as follows:
The additional standard deduction for age 65 is larger in the single filing status than the additional standard deduction per person for age 65 in married filing jointly. Seniors over age 65 may claim an additional standard deduction.
People 65 Or Older May Be Eligible For A Higher Amount.
The additional standard deduction amount for.
For Tax Year 2023, The Additional Standard Deduction Amounts For Taxpayers Who Are 65 And Older Or Blind Are:.
Taxpayers 65 and older and those who are blind can claim an additional standard deduction.
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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.
The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).
You Can Claim A Standard Deduction To Reduce Your Taxable Income As Well As An Additional Deduction If You Are Age 65 Or Older And/Or Blind.
Senior taxpayers aged 65 and older receive a higher standard.