Standard Deduction For 2024 For Seniors. This section also discusses the. Key highlights of the 2024 irs standard deduction.
The irs has raised the standard deduction for both single and married. For 2024, the additional standard deduction amount for the aged or the blind is $1,550.
2023 Standard Deduction 2024 Standard Deduction 65 Or Older Or Blind $1,500 Per Qualifying Person $1,550 Per Qualifying Person 65 Or Older And Blind $3,000.
Key highlights of the 2024 irs standard deduction.
The Standard Deduction Amount Depends On Your Filing Status, Whether You Are 65 Or Older Or Blind, And Whether Another Taxpayer Can Claim You As A Dependent.
The standard deduction for tax year 2024 is $14,600 for single taxpayers and married couples filing separately, $21,900 for head of household filers, and $29,200.
The Standard Deduction Is Tied To Inflation, So The Amounts Change A Bit Each Year.
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The First Automatic Tax Benefit Of Being A Senior Comes From A Larger Standard Deduction.
Seniors over age 65 may claim an additional standard deduction.
The Additional Standard Deduction Amount Will Increase To $1,950 If The Individual Is.
What is the extra standard deduction for seniors over 65 in 2024?
The Standard Deduction For Tax Year 2024 Is $14,600 For Single Taxpayers And Married Couples Filing Separately, $21,900 For Head Of Household Filers, And $29,200.