Standard Tax Deduction 2024 For Seniors Over 70 . How much is the additional standard deduction? If you don't itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year.
The standard deduction for those over age 65 in tax year 2023 (filing in 2024) is $15,700 for singles, $29,200 for married filing jointly if only one partner is over 65 (or $30,700 if both are). Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers.
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