What Is The Standard Deduction For 2024 Taxes Over 65

What Is The Standard Deduction For 2024 Taxes Over 65. What is a standard deduction and the related inflation adjustments? If you are 65 or older or blind, you can claim an additional standard deduction.

Standard deduction gives the rules and dollar amounts for the standard deduction—a benefit for taxpayers who don’t itemize their deductions. 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.