Standard Tax Deduction 2024 For Seniors Over 65. This higher deduction helps to offset some of. The flat tax would be paired with a much higher $12,500 standard individual deduction, up from $4,500.
Individuals under 65 at the end of 2023 have to file a federal return in 2024 if their income last year was at least $13,850 ($20,800 for taxpayers filing as head of. If you or your spouse were age 65 or older or blind at the end of the year, be sure to claim an additional standard deduction by checking the appropriate boxes for age or blindness.
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