Standard Deduction For 2024 Tax Year Over 65. What is the standard deduction for 2024? Therefore, you can take a higher standard deduction for 2023 if you were born before january 2, 1959.
For 2024, that extra standard deduction is $1,950 if you are single or file as head of household. Therefore, you can take a higher standard deduction for 2023 if you were born before january 2, 1959.
There’s Even More Good News For Older Taxpayers.
People who are 65 or older can take an additional standard deduction of $1,950 for single and head of household filers and $1,550 for married filing jointly,.
You Are Considered Age 65 On The Day Before Your 65Th Birthday.
If you are a single senior over the age of 65, you can claim an additional standard deduction of $1,950, married seniors are entitled to an additional $1,550.
Standard Deduction For 2024 Tax Year Over 65 Images References :
The Standard Deduction Amounts Will Increase To $14,600 For Individuals And Married Couples Filing Separately, Representing An Increase Of $750 From 2023.
In 2026, this is all expected to change (again).
People 65 Or Older May Be Eligible For A Higher Amount.
