What Is Standard Tax Deduction For 2024 For Seniors

What Is Standard Tax Deduction For 2024 For Seniors. The personal exemption for 2024 remains at $0 (eliminating the personal exemption was part of the tax cuts. A taxpayer who is claimed as a dependent on someone else’s tax return for tax year 2024 (and who is younger than 65 and not blind) can claim a standard deduction of.

If you’re married, the standard deduction increases by $1,550 if only one of you is 65. The standard deduction for 2024 is $14,600 for single filers and those married filing separately, $29,200 for joint filers and surviving spouses, and $21,900 for heads of household.