2024 Standard Tax Deduction For Seniors Over 70. 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 household, and $27,700 for married couples filing jointly or a. When you turn 65, the irs offers you a tax benefit in the form of an extra standard deduction for people age 65 and older.
For 2024, that extra standard deduction is $1,950 if you are single or file as head of household. The standard deduction for 2024 is $14,600 for single filers and those married filing separately, $29,200 for joint filers and surviving spouses, and $21,900 for heads of household.
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