2024 2024 Standard Deduction Over 65. And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the. If you don't itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year.
For single filers and heads of households age 65 and over, the additional standard deduction will increase slightly โ from $1,950 in 2024 (returns youโll file soon in early 2025) to. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750.
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