Standard Deduction For 2024 Tax Year Over 65 . In this article, we'll look into what the standard deduction entails for individuals over 65 in 2023 and 2024, how it differs from standard deductions for younger taxpayers, and. In most cases, whether to take.
The standard deduction is a predetermined amount that reduces your taxable income, lowering the income subject to tax. Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers.
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