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For 2023 the standard deduction amounts are:
Single 13,850 + 1,850 for 65 and over or blind (15,700)
HOH 20,800 + 1,850 for 65 and over or blind (22,650)
Joint 27,700 + 1,500 for each 65 and over or blind (29,200/30,700)
Married filing Separate 13,850 + 1,500 for 65 and over or blind (15,350)
$18,500 isn't even for the 2024 amounts. For 2024 next year the standard deduction amounts are:
Single 14,600 + 1,950 for 65 and over or blind (16,550)
HOH 21,900 + 1,950 for 65 and over or blind (23,850)
Joint 29,200 + 1,550 for each 65 and over or blind (30,750)
Married filing Separate 14,600 + 1,550 for 65 and over or blind (16,150)
The standard Deduction for a Single filer 65 and over is $15,700 according to Pub 17, on page 96.
Where did you find $18,500?
For 2023 the standard deduction amounts are:
Single 13,850 + 1,850 for 65 and over or blind (15,700)
HOH 20,800 + 1,850 for 65 and over or blind (22,650)
Joint 27,700 + 1,500 for each 65 and over or blind (29,200/30,700)
Married filing Separate 13,850 + 1,500 for 65 and over or blind (15,350)
$18,500 isn't even for the 2024 amounts. For 2024 next year the standard deduction amounts are:
Single 14,600 + 1,950 for 65 and over or blind (16,550)
HOH 21,900 + 1,950 for 65 and over or blind (23,850)
Joint 29,200 + 1,550 for each 65 and over or blind (30,750)
Married filing Separate 14,600 + 1,550 for 65 and over or blind (16,150)
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