Standard Tax Deduction 2024 Over 65 . The personal exemption for 2024 remains at $0 (eliminating the personal exemption was part of the tax cuts and jobs act of 2017 (tcja). The additional standard deduction amount for 2024 (returns usually filed in early 2025) is $1,550 ($1,950 if unmarried and not a surviving spouse).
The irs adjusts the standard deduction each year for inflation. 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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2024 Standard Deduction For Seniors Over 65 Roby Vinnie , For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;