2024 Fed Tax Standard Deduction For Seniors. People who are age 65 and over have a higher standard deduction than the basic standard deduction. If you’re a single taxpayer age 65 and older, you can add $1,850 to $13,850 standard deduction.
When your income jumps to a higher tax bracket, you don’t pay the higher rate on your entire income. In tax year 2024, the standard deductions are as follows: