2024 Standard Deduction Amount Over 65. In this article, we'll look into what the standard deduction entails for individuals over 65 in 2023 and 2024, how it differs from standard deductions for. Further section 80ddb of the income tax act allows tax deduction on expenses incurred by an individual on himself or a dependent towards the treatment of specific diseases as.

The additional standard deduction for people who are 65 or older is $1,950 for single filers or heads of household, and $1,550 for married couples filing jointly. 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.