Standard Deduction 2024 Over 65 Irs.Gov. See the current tax rates and brackets for single, married, and other filers. Find out the amount, rules, and exceptions for different filing statuses,.

Learn how the extra standard deduction can help older adults reduce their taxable income and save money in retirement. 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%.