2024 Standard Deduction Mfj Over 65. — seniors over age 65 have access to an additional $1,850 standard deduction on top of their base rate, which helps reduce taxable income and gives them more financial. See all standard deductions by year and legislative history.
— for single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; It is essential for senior citizens to understand the implications of budget 2024 and how it will affect their tax planning.