Standard Deduction 2024 Over 65 Mfj. $3,700 if you are single or filing as head of household. Each year, the irs adjusts standard deduction amounts for inflation (similar to its tax rate brackets, maximum 401k.

The standard deduction for those over age 65 in tax year 2023 (filing in 2024) is $15,700 for singles, $29,200 for married filing jointly if only one partner is over 65 (or $30,700 if both. You’re considered to be 65 on the day before your 65th birthday (for tax year 2023, you’re considered to be 65 if you were born before january 2, 1959).