Standard Tax Deduction 2024 Single Over 65

Standard Tax Deduction 2024 Single Over 65. Taxpayers get a higher standard deduction when they turn 65 or are blind. And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023.

Nirmala sitharaman’s budget 2024 raises standard deduction to rs 75,000 for salaried individuals and pensioners, and rs 25,000 for family pensioners. If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to $61,150.