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For 2024? Depending on your filing status, your standard deduction is increased by $1550 to $1950 if you were 65 or older at the end of 2024.
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)
TurboTax just shows the correct standard deduction for your age and filing status. It doesn’t show a “base” standard deduction “plus“ additional amounts for age.
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