in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
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The standard deduction for married filing jointly and both over 65 is $30,700
The standard deduction 2023:
For single taxpayers and married individuals filing separately, the Standard Deduction is $13,850 in 2023.
For married couples filing jointly is $27,700, and
For heads of households, the Standard Deduction is $20,800
If you're at least 65 years old or blind, you can claim an additional deduction in 2023 of:
If you're both 65 and blind, the additional deduction amount is doubled.
You are referring to the 2024 Standard Deduction which will be entered on a 2024 tax return that is filed next year, in 2025.
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