Standard Deduction 2024 For Seniors Over 65. 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. If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to.
This higher deduction helps to offset some of. 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.