2024 Standard Deduction Married Joint Senior. For those who are married and file jointly, the 2024 standard deduction will be significantly higher, reflecting the commitment to support. Find the current tax rates for other filing statuses.
People who are 65 or older can take an additional standard deduction of $1,950 for single and head of household filers and $1,550 for married filing jointly,. Standard deduction amounts for 2023 taxes (returns due april 2024).
There Will Also Be Changes For The Standard Deduction For The 2024 Tax Year, The Agency Said.
Here’s how that works for a single person earning $58,000 per year:
The Standard Deduction Is A Fixed Dollar Amount That Reduces Your Taxable Income.
Standard deduction amounts for 2023 taxes (returns due april 2024).
Each Joint Filer 65 And Over Can Increase The Standard Deduction By $1,550 Apiece, For A Total Of $3,100 If.
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There’s Even More Good News For Older Taxpayers.
The basic standard deduction in 2023 and 2024 are:
Taxpayers 65 And Older And Those Who Are Blind Can Claim An Additional Standard Deduction.
One of the most immediate benefits of filing jointly is the significantly higher standard deduction.
For 2023 (Tax Returns Typically Filed In April 2024), The Standard Deduction Amounts Are $13,850 For Single And For Those Who Are Married, Filing Separately;