Irs 2024 Standard Deduction For Seniors. Learn how to calculate your standard deduction for tax year 2023, which reduces the amount of income on which you're taxed. Learn about the standard deduction amount, alternative minimum tax exemption, earned income credit, and other tax topics for older taxpayers.
Depending on your tax rate and filing status, youโll owe. See the income thresholds for each bracket, the standard deduction.