Standard Deduction 2024 For Seniors. If you don't itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year. 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.

Each year, the irs adjusts standard deduction amounts for inflation (similar to its tax rate brackets, maximum 401k and maximum ira contribution levels, etc.). The additional standard deduction amount increases to $1,950 for unmarried taxpayers.