Standard Deduction 2024 Single Person. People 65 or older may be eligible for a higher amount. People who are age 65 and over have a higher standard deduction than the.

If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to. Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers.