Standard Deduction For 2024 Tax Year Over 65

Standard Deduction For 2024 Tax Year Over 65. For 2024, that extra standard deduction is $1,950 if you are single or file as head of household. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an.

Section 63 (c) (2) of the code provides the standard deduction for use in filing individual income tax returns.  — 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.