What Is The Standard Deduction For 2024-25

What Is The Standard Deduction For 2024-25. This deduction helps reduce taxable income,. Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers.

In this article we have discussed income tax deduction available to taxpayers from various sources of income for a.y. Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers.