2024 Tax Credits And Deductions For Seniors. The irs has released the standard deduction amounts for 2024, which increase the amounts that will be available on 2023 tax returns. Depending on your tax rate and filing status, you’ll owe different amounts on different parts of your income depending on your taxable income.

Because qcds can start at age 70½ —. The additional standard deduction amount for 2024 (returns usually filed in early 2025) is $1,550 ($1,950 if unmarried and not a surviving spouse).