2024 Irs Standard Deduction Amount. 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%. โ federal income tax rates and brackets.
People who are age 65 and over have a higher standard deduction than the basic standard deduction. The additional standard deduction for people who have reached age 65 (or who are blind) is $1,550 for each married taxpayer or $1,950 for unmarried taxpayers.
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