Standard Tax Deduction 2024 For Seniors , Standard Tax Deduction 2024 For Seniors. The personal exemption for 2024 remains at $0. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed. Single or married filing separately—$13,850. 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. Standard Tax Deduction 2024 For Seniors Images References : 2024
Standard Tax Deduction 2024 For Seniors. The personal exemption for 2024 remains at $0. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed. Single or married filing separately—$13,850. 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.