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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 ...
So when claiming your standard deduction for 2023, you can take a higher standard deduction amount if you were born before Jan. 2, 1959. ... (standard deduction) plus $1,500 for one 65+ adult plus ...
For tax year 2023, the addition to the standard deduction for individuals 65 and older is $1,850 for single filers and $1,500 each for married taxpayers. ... Senior citizens age 70.5 and over who ...
For dependents, the standard deduction is equal to earned income (that is, compensation for services, such as wages, salaries, or tips) plus a certain amount ($400 in 2023). A dependent's standard deduction cannot be more than the basic standard deduction for non-dependents, or less than a certain minimum ($1,250 in 2023).
March 22, 2023 at 2:17 PM. ... Standard Deduction. ... Individuals who are 65 or older and those who are blind can claim an additional $1,750 for tax-year 2022, bringing their total standard ...
Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. Married, filing jointly: $25,900 for 2022, $27,700 for 2023.
For those 65 or older or blind, the additional standard deduction for married taxpayers or qualified widows(ers) is $1,400, an increase of $50. This applies to tax returns filed in 2023 .
Here are additional 2025 standard deductions for those over 65 ... 2023. It taxes Social Security the way the federal government does currently — with a $5,500 deduction for taxpayers over 65.
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