2024 Standard Deduction For Seniors 2024. If you are a single senior over the age of 65, you can claim an additional standard deduction of $1,950, married seniors are entitled to an additional $1,550. The standard deduction amounts for 2024 have increased to $14,600 for single filers, $29,200 for joint filers and $21,900 for heads of household.
For example, in the tax year 2023, if youโre single and 65+, you can add an extra $1,850 to your standard deduction, bringing up the total to $15,700. Understanding the income tax slab rates and available deductions can significantly affect tax planning and overall financial health.