Standard Tax Deduction 2024 Over 65

Standard Tax Deduction 2024 Over 65. People 65 or older may be eligible for a higher amount. The personal exemption for 2024 remains at $0 (eliminating the personal exemption was part of the tax cuts.

Find the new rates and information on extra benefits for people over 65. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed.