Standard Deduction 2024 For Seniors. People 65 or older may be eligible for a. 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.
For 2023, the standard deduction amount has been increased for all filers. Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers.