Senior Standard Deduction For 2024 Tax Year. 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. This guide details the income tax.

The primary difference lies in the basic exemption ceiling, which denotes the. For 2024, that extra standard deduction is $1,950 if you are single or file as head of household.