Standard Deduction 2024 Over 65

Standard Deduction 2024 Over 65. Seniors over age 65 have access to an additional $1,850 standard deduction on top of their base rate, which helps reduce taxable income and gives them. $3,000 per qualifying individual if you are.

If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to $61,150. Taxpayers get a higher standard deduction when they turn 65 or are blind.