2024 Standard Tax Deduction For Seniors Uk. 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. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an.

The following rates are for the 2024 to 2025 tax year and the previous 3 years. For seniors over the age of 65, the standard deduction in 2023 and 2024 is higher than it is for younger taxpayers.