2024 Fed Tax Standard Deduction For Seniors. The additional standard deduction amount will increase to $1,950 if the individual is unmarried and not a surviving. Adjustments to the extra standard deduction can impact the tax bills of millions of older adults.

Irs provides tax inflation adjustments for tax year 2024. The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed.