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The standard deduction amounts for 2025 will increase to $15,000 for individuals and married couples filing separately, and $30,000 for married couples filing jointly. The additional standard deduction amount for the aged or the blind is $1,600, and the standard deduction amount for a dependent is $1,350 or the sum of $450 and the individual's earned income.

Learn how to claim the extra standard deduction for people aged 65 or older, which can reduce taxable income and save money in retirement. See the 2024 and 2025 amounts, eligibility criteria and how to add them to your regular standard deduction.

For heads of households, the standard deduction will be $22,500 for tax year 2025, an increase of $600 from the amount for tax year 2024. Marginal rates. For tax year 2025, the top tax rate remains 37% for individual single taxpayers with incomes greater than $626,350 ($751,600 for married couples filing jointly).

Learn how the standard deduction works and how it compares to itemizing. Find out the amounts for different filing statuses and age groups, including 65 and older.

The IRS has announced the standard deduction amounts for 2025, which are higher than 2024 due to inflation. For taxpayers 65 and older and those who are blind, there is an extra standard deduction of $1,600 ($2,000 if unmarried and not a surviving spouse).

Additional standard deduction – You're allowed an additional deduction if you're age 65 or older at the end of the tax year. You're considered to be 65 on the day before your 65th birthday (for tax year 2024, you're considered to be 65 if you were born before January 2, 1960).

In this article, we'll look into what the standard deduction entails for individuals over 65 in 2024 and 2025, how it differs from standard deductions for younger taxpayers, and strategies for maximizing tax savings.

Standard deduction. A taxpayer can generally choose to itemize certain deductions or claim a standard deduction on the federal income tax return. In 2025, the standard deduction is: ... The additional standard deduction amount for the blind and those age 65 or older in 2025 is: $2,000 (up from $1,950 in 2024) for single filers and heads of ...

If you're age 65 or older or legally blind, the IRS gives you a little more breathing room. Here’s how much more you can deduct: ... If someone else claims you as a dependent, your standard deduction for 2025 is the greater of: $1,350, or; Your earned income plus $450 (up to the standard deduction for your filing status) ...

The IRS has released its 2025 standard deduction amounts. Each year, ... Additional Standard Deduction for Age 65+ or Blind AND unmarried or not a surviving spouse: $1,950: Personal Exemption: $0: 2025 Standard Deductions & Exemptions. The standard deductions for 2025 are: Filing Status:

The IRS has released the standard deduction amounts for the 2024-2025 tax year. ... plus one additional standard deduction of $1,950 for being a single filer over age 65. Her total standard ...

Thanks to the Tax Cuts and Jobs Act (TCJA), the standard deduction is much more generous than it was before the law was passed in 2017.For most taxpayers, it makes sense to take the standard deduction and call it a day (but it might make sense to itemize your deductions if you had a lot of deductible expenses last year).. There’s a catch, too: The law is set to expire at the end of 2025, at ...

The 2025 standard deduction is increased to $30,000 for married individuals filing a joint return; $22,500 for head-of-household filers; and $15,000 for all other taxpayers. If you are age 65 or older, you may increase your standard deduction by $2,000 if you file Single or Head of Household. If you are Married Filing Jointly and you or your ...

2025 Tax Year Standard Tax Deduction Amounts. The 2025 standard deduction table below is organized by filing status (single, married, head of household, surviving spouse), whether you were older or younger than age 65 - born on/after or before Jan. 2, 1961, and whether you are legally blind or not. The IRS and state standard deduction amounts ...

For taxpayers over the age of 65, the IRS’s 2025 tax adjustments introduce critical changes that could significantly impact your financial outlook in the coming years. These updates, particularly the increased additional standard deduction, are designed to reduce taxable income and lighten the tax burden for older adults—a valuable ...

Locate the standard deduction amount based on your status. Ensure you are not itemizing deductions. Enter the deduction amount on the appropriate line of Form 1040. For those 65 or older, the standard deduction increases. Make sure to indicate your age where specified on the form. This ensures the correct deduction amount is applied.

February 2, 2025 seniors, tax, tax deductions. ... Seniors qualify for this deduction simply by reaching the age of 65 before the end of the tax year. It’s a straightforward way to lower taxable income without needing to itemize. ... Eligibility for the extra standard deduction hinges primarily on age. Seniors must be 65 or older by December ...

The total number of boxes checked then is used to determine the filer(s) standard deduction amount. For the 2025 tax year, filers age 65 or older and/or legally blind taxpayers who file joint returns or are surviving spouses get an additional standard deduction amount. It will be $1,600 for each qualifying circumstance.

Standard Deduction Amounts. The 2025 standard deduction amounts are as follows:. Single or married filing separately: $15,000; Married filing jointly: $30,000; Head of household: $22,500; The additional standard deduction for people who have reached age 65 (or who are blind) is $1,600 for each married taxpayer or $2,000 for unmarried taxpayers.