Tax Year 2024 Standard Deduction For Seniors. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:.

The standard deduction is a fixed dollar amount you may subtract from your taxable income — meaning more of your money isn’t subject to taxes — resulting in. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;