2024 Tax Rates And Standard Deduction For Seniors

2024 Tax Rates And Standard Deduction For Seniors. For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for heads of household. In total, a married couple 65 or older would have a standard deduction of $32,300.

Tax rates report, giving you an early look at what brackets and other key tax figures will look like in 2024. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750 from 2023.