2024 Standard Deduction For Seniors

2024 Standard Deduction For Seniors. The current limit for standard deduction under both the new and old tax regime is rs 50,000. The standard deduction for those over age 65 in tax year 2023 (filing in 2024) is $15,700.

The standard deduction amounts for 2024 have increased to $14,600 for single filers, $29,200 for joint filers and $21,900 for heads of. That’s the 2024 regular standard deduction of $29,200 for married taxpayers filing joint returns, plus three additional standard deductions at $1,550 apiece.