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Standard deductions for 2024
Single - $14,600 add $1,850 if age 65 or older
Married Filing Separately - $14,600 add $1,550 if age 65 or older
Married Filing Jointly - $29,200 add $1,550 for each spouse age 65 or older
Head of Household - $21,900 add $1,950 if age 65 or older
Married Filing Jointly both age 65 or older - $32,300
The number is correct.
The standard deduction for taxpayers who do not itemize deductions on Form 1040, Schedule A, has increased. The standard deduction amounts for 2024 is:
$29,200 – Married Filing Jointly or Qualifying Surviving Spouse (increase of $1,500)
For 2024, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:
$1,550 for married taxpayers or Qualifying Surviving Spouse (increase of $50)
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