Irs Standard Deduction 2024 Over 65 Single

Irs Standard Deduction 2024 Over 65 Single. The standard deduction for a single person will go up from $13,850 in 2023 to $14,600 in 2024, an increase of 5.4%. For 2023 the irs standard deduction for seniors is $13,850 for those filing single or married filing separately, $27,700 for qualifying widows or married filing jointly, and $20,800 for a head of household.

People who are 65 or older can take an additional standard deduction of $1,950 for single and head of household filers and $1,550 for married filing jointly, married filing separately, and qualifying spouse filers. For example, in the tax year 2023, if you’re single and 65+, you can add an extra $1,850 to your standard deduction, bringing up the total to $15,700.