2024 Standard Deduction For Seniors Over 65. Before delving into the extra standard deduction for older adults aged 65 and older, reviewing the regular standard deduction and how it works for 2023 is helpful. Each joint filer 65 and over can increase the standard deduction by $1,550 apiece, for a total of $3,100 if both joint filers are.
The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750. You deduct an amount from your income before you calculate taxes.
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