Standard Tax Deduction 2024 Single Over 65

Standard Tax Deduction 2024 Single Over 65. When claiming the standard deduction, taxpayers must be aware of certain eligibility requirements and procedures. The budget, this time is presented in the month of july instead of february usually is due to lok sabha elections 2024 held in the month of april, may and june.

That means a single taxpayer 65 or older (or who is blind) can claim a total standard deduction of $16,550 on their 2024 federal tax return. For example, a single taxpayer who is age 65 and blind would be entitled to a basic standard deduction and an additional standard deduction equal to the sum of the additional amounts for both age and blindness.