2024 Standard Deduction Single Senior

2024 Standard Deduction Single Senior. The additional standard deduction amount will increase to $1,950 if the individual is. The internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, it’s possible you could fall into a lower bracket.

If you are 65 or older or blind, you can claim an additional standard deduction. Single filers will see an increase of $750 and joint filers will receive a $1,500 bump in their standard deduction.