Standard Deduction For 2024 Taxes 65 And Over. Also, for 2024, it's predicted that the standard deduction for an individual who may be claimed as a dependent by. If you don't itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year.
The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an. Seniors over age 65 have access to an additional $1,850 standard deduction on top of their base rate, which helps reduce taxable income and gives them.
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