When i completed the 2024 tax forms, they gave me a standard deduction of $16,550 as a single over age 65. But when i went to the IRS website, it stated that if you are single or a surviving spouse over the age of 65, the standard deduction is $19,550. Am i missing something or did the program not pick up that i should have received a higher standard deduction?

Question

Standard deduction over 65

Forum|Forum|1 year ago
February 5, 2025
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When i completed the 2024 tax forms, they gave me a standard deduction of $16,550 as a single over age 65. But when i went to the IRS website, it stated that if you are single or a surviving spouse over the age of 65, the standard deduction is $19,550. Am i missing something or did the program not pick up that i should have received a higher standard deduction?

You misunderstood the amounts. If you are single, your standard deduction for 2024 is $14,600. Then if you are 65 or older, you get an extra amount---->$1950. So $14,600 + !950 = $16,550

The standard deduction makes some of your income “tax free.” It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600 (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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Vicki67Author

thank you. I did try to go back and find that note again and was unsuccessful.

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Lourdes deroxas

What is the right standard deduction for a widow, living alone over 65 years old?

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xmasbaby0