Income Tax Standard Deduction 2024 For Seniors

Income Tax Standard Deduction 2024 For Seniors. The standard deduction for a single person will go up from $13,850. Additional reforms include doubling the standard deduction for seniors, raising it to $25,000 for single filers and $50,000 for married couples, along with transferring several funds.


Income Tax Standard Deduction 2024 For Seniors

That’s higher than the standard deduction for younger taxpayers, which is $25,900. 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.

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