Standard Deduction 2024 Age 65 Single

Standard Deduction 2024 Age 65 Single. Each year, the irs adjusts standard deduction amounts for inflation (similar to its tax rate brackets, maximum 401k and maximum ira contribution levels, etc.). For tax year 2023, the additional standard deduction for those who are either blind or 65 or older is $1,850 for single taxpayers or those who file as head of household.

People 65 or older may be eligible for a higher. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;