2024 Standard Deduction Single Over Age 65

2024 Standard Deduction Single Over Age 65. Each year, the irs adjusts standard deduction amounts for inflation (similar to its tax rate brackets, maximum 401k. That means a single taxpayer 65 or older (or who is blind) can claim a total standard deduction of $16,550 on their 2024 federal tax return.

 — for the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing separately, $27,700 for married couples filing jointly and. You can’t take the standard deduction if you itemize your deductions.