2024 Tax Rates And Standard Deduction Over 65. You can claim a standard deduction to reduce your taxable income as well as an additional deduction if you are age 65 or older and/or blind. 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.

For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; You pay tax as a percentage of your income in layers called tax brackets.