Income Tax Standard Deduction 2024 For Seniors

Income Tax Standard Deduction 2024 For Seniors. For example, in the tax year 2023, if you’re single and 65+, you can add an extra $1,850 to your standard deduction, bringing up the total to $15,700. People who are age 65 and over have a higher standard deduction than the basic standard deduction.


Income Tax Standard Deduction 2024 For Seniors

Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers. After turning 65, the standard deduction for single filers in 2024 increases by $1,950.

Income Tax Standard Deduction 2024 For Seniors Images References :