What Is Standard Tax Deduction For 2024 Over 65. The tax cuts and jobs act, trump’s signature tax law, capped the value of that deduction at $10,000, regardless of marital status. You're considered to be 65 on the day before your 65th birthday (for tax year 2023, you're considered to be 65 if you were born before january 2, 1959).
The additional standard deduction amount will increase to $1,950 if the individual is. $1,850 for single or head of household.