2024 Standard Deduction For Seniors . You can claim a standard deduction to reduce your taxable income as well as an additional deduction if you are age 65 or older and/or blind. It's called the extra standard deduction, exclusively for people who are 65 years and.
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. It’s called the extra standard deduction, exclusively for people who are 65 years and.
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