2024 Irs Standard Deduction Over 65. This section also discusses the standard deduction for taxpayers who are blind or age 65 or older, as well as special rules that limit the standard deduction available to dependents. Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers.
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. If the provision expires, the tax brackets will revert to 2017 levels, shifting to 10%, 15%, 25%, 28%, 33%, 35% and 39.6%.
2024 Irs Standard Deduction Over 65 Images References :