Standard Tax Deduction 2024 Single Senior. For the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing separately, $27,700 for married. The amt exemption amount for tax year 2024 for single filers is $85,700 and begins to phase out at $609,350 (in 2023, the exemption amount for single filers was.
For example, in the tax year 2023, if you’re single and 65+, you can add an extra $1,850 to your standard deduction, bringing up the total to $15,700. The 2024 union budget introduced some modifications regarding the aadhaar card, stt, tds rate, and the direct tax vivad se.