What Is Standard Tax Deduction For 2024 Over 65

What Is Standard Tax Deduction For 2024 Over 65. For 2024, that extra standard deduction is $1,950 if you are single or file as head of household. The standard deduction is a common tax provision that allows seniors over 65 years old to reduce the amount of taxable income they owe.

People who are age 65 and over have a higher standard deduction than the basic standard deduction. So, if you are a single taxpayer under age 65, it couldn’t exceed the $14,600 standard deduction for 2024.