Standard Deduction 2024 For Seniors

Standard Deduction 2024 For Seniors. For 2024, that extra standard deduction is $1,950 if you are single or file as. 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.

The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). The additional standard deduction for people who are 65 or older is $1,950 for single filers or heads of household, and $1,550 for married couples filing jointly.