Irs Standard Deduction 2024 Seniors. Page last reviewed or updated: Tax information for seniors and retirees, including typical sources of income in retirement and special tax rules.
For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; The 2023 standard deduction for tax returns filed in 2024 is $13,850 for single filers, $27,700 for joint filers or $20,800 for heads of household.
See Current Federal Tax Brackets And Rates Based On Your Income And Filing Status.
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Learn How It Affects Your Taxable Income And Any Limits On Claiming It.
Each joint filer 65 and over can increase the standard deduction by $1,550 apiece, for a total of $3,100 if both.
In General, The Standard Deduction Is Adjusted Each Year For Inflation And Varies According To Your Filing Status, Whether You're 65 Or Older And/Or Blind, And Whether Another Taxpayer.
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Older Adults Have Special Tax Situations And Benefits.
Single or head of household:
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2024 additional standard deduction amounts:
Seniors Over Age 65 May Claim An Additional Standard Deduction Of $1,950 For Single Filers And $1,550 For Joint Filers.
