2024 Standard Deduction Amount Over 65. Budget 2024 is just around the corner, and there are many expectations and speculations regarding the benefits finance minister nirmala sitharaman may announce for taxpayers under modi '3.0'. However, this increase was limited to.
There’s even more good news for older taxpayers. If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to $61,150.