Standard Deduction 2024 Married Jointly . What could taking the standard deduction look like? The standard deduction for those over age 65 in tax year 2023 (filing in 2024) is $15,700 for singles, $29,200 for married filing jointly if only one partner is over 65 (or $30,700 if both are).
In 2024, for example, single taxpayers and married taxpayers who file separate returns can claim a $14,600 standard deduction. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025.
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