Standard Tax Deduction 2024 For Seniors. The primary difference lies in the basic exemption ceiling, which. Taxpayers who are age 65 or older can claim an additional standard deduction, which is added to the regular standard deduction.

The internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, it’s possible you could fall into a lower bracket. For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older or blind are: