I read that for a couple who are over 65, the standard deduction is $32,300. Is that true? Thanks

[xmasbaby0]

Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2023 Form 1040.

2023 STANDARD DEDUCTION AMOUNTS

SINGLE $13,850  (65 or older/legally blind + $1850)

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)

[jtax]

the 2023 standard deduction for married filing jointly with both spouses 65 or older is $30,700.

For 2024 Forbes says it is $32,300. $29,200 + $3100 ($1550 per spouse over 65).

See 

2023:  https://www.irs.gov/publications/p554#f15102r01

and for 2024

https://www.kiplinger.com/taxes/new-standard-deduction-amounts-are-here

[Mike9241]

2023 standard deduction MFJ is $27,700

if one taxpayer is over 65 add $1500 if both add $3000

if one is blind add $1500 if both are blind add $3000

the amount would be

$27.700 minimum

$29,200

$30,700

$32,200

$33,700  max 

[McReynolds1994]

I stand corrected I apologize 

[DoninGA]

Standard deductions for 2024

Single - $14,600 add $1,950 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

IRS website - https://www.irs.gov/help/ita/how-much-is-my-standard-deduction

Standard deductions for 2023

Single - $13,850 add $1,850 if age 65 or older
Married Filing Separately - $13,850 add $1,500 if age 65 or older
Married Filing Jointly - $27,700 add $1,500 for each spouse age 65 or older
Head of Household - $20,800 add $1,850 if age 65 or older

IRS website for tax year 2023 - https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2023

[xmasbaby0]

The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY            $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

2023 STANDARD DEDUCTION AMOUNTS

SINGLE $13,850  (65 or older/legally blind + $1850) 

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

 MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

 HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)