Standard Tax Deduction 2024 For Seniors 2024

Standard Tax Deduction 2024 For Seniors 2024. Taxpayers who are age 65 or older can claim an additional standard deduction, which is added to the regular standard deduction. Older adults have special tax situations and benefits.


Standard Tax Deduction 2024 For Seniors 2024

The standard deduction for married couples filing jointly for tax year 2022 rises to $25,900 up $800 from the prior year. You pay tax as a percentage of your income in layers called tax brackets.

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Standard Tax Deduction 2024 For Seniors 2024. Taxpayers who are age 65 or older can claim an additional standard deduction, which is added to the regular standard deduction. Older adults have special tax situations and benefits. The standard deduction for married couples filing jointly for tax year 2022 rises to $25,900 up $800 from the…