2024 Standard Deduction For Seniors

2024 Standard Deduction For Seniors. A deduction reduces the amount of a taxpayer's income that's subject to tax, generally reducing the amount of tax the individual may have to pay. Your standard deduction consists of the sum of the basic standard.

The personal exemption for 2024 remains at $0 (eliminating the personal exemption. Taxpayers who blind and/or are age 65 or older can claim an additional standard deduction, an amount that’s added to the regular standard deduction for their.