Debera Maddalena

How Much Is The Standard Deduction For 2024 Over 65. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed. $3,700 if you are single or filing as head of household $3,000 per qualifying individual if you are married, filing.

For 2023 (tax returns typically filed in april 2024), the standard deduction amounts are $13,850 for single and for those who are married, filing separately; The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).