Standard Deduction For 2024 For Seniors. For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for. The standard deduction for a single person will go up from $13,850 in 2023 to $14,600 in 2024, an increase of 5.4%.
For the tax years 2023 and 2024, it is allowed to deduct up to 60% of your gross income. Seniors over age 65 have access to an.