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2. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   The standard deduction reduces a taxpayer’s taxable income, ensuring that only households with income above certain thresholds will owe income tax. The standard deduction amounts for 2023 are ...

3. Taxes 2023: What's the standard deduction for people over 65?

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   The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for married filing jointly if only one partner is over 65 (or $28,700 if both are), and ...

4. Retirees Often Overlook These 11 Tax Deductions - AOL

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   Here are 11 tax deductions senior citizens should know about. ... the annual contribution limit for the 2023 tax year was $7,500 or the total taxable compensation if less than $7,500. 2. Tax ...

5. What Is the Standard Deduction Amount for 2022-2023 and When ...

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   Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. ... U.S. Tax Return for Seniors, the standard deduction is on page 4.

6. Tax breaks after 50 you might not know about - AOL

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   Once you or your spouse turn 65, you can qualify for an additional standard deduction on top of the basic standard deduction you’d normally receive — or $14,600 for individuals and $29,200 for ...

7. What Is the Standard Deduction for Married Filing Jointly in ...

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   The IRS gives taxpayers two options to lower taxable income: itemize deductions or take the standard deduction. The standard deduction for married taxpayers filing jointly is $25,900, up from $800...