Standard Deduction 2024 Over 65. Increase in basic standard deduction for 2023 (and for 2024) the 2024 basic standard deduction amounts for most people increased by approximately 5.4%. Standard deductions for taxpayers over 65.
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, married filing. About 90% of all taxpayers take the standard deduction.
