2024 Standard Deduction Married Both Over 65. In this article, we'll look into what the standard deduction entails for individuals over 65 in 2023 and 2024, how it differs from standard deductions for. 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 are.
The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). The standard deduction is a predetermined amount that reduces your taxable income, lowering the income subject to tax.
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