Standard Deduction 2024 Over 65. The additional standard deduction for people who are 65 or older is $1,950 for single filers or heads of household, and $1,550 for married couples filing jointly. 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.

The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). People 65 or older may be eligible for a.