Standard Tax Deduction 2024 Single Over 65

Standard Tax Deduction 2024 Single Over 65. If you’re a single taxpayer age 65 and older, you can add $1,850 to $13,850 standard deduction. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025.

For example, a single taxpayer who is age 65 and blind would be entitled to a basic standard deduction and an additional standard deduction equal to the sum of the. The standard deduction for those over age 65 in tax year 2023 (filing in 2024) is $15,700 for singles, $29,200 for married filing jointly if only one partner is over 65 (or $30,700 if both.