Standard Deduction 2024 Over 65 Single. Each year, the irs adjusts standard deduction amounts for inflation (similar to its tax rate brackets, maximum 401k. Before delving into the extra standard deduction for older adults aged 65 and older, reviewing the regular standard deduction and how it works for 2023 is helpful.

 — single filers will see an increase of $750 and joint filers will receive a $1,500 bump in their standard deduction. $3,700 if you are single or filing as head of household.