Standard Deduction For Married Joint 2024. People 65 or older may be eligible for a higher amount. Seniors over age 65 may claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers.

The standard deduction is a specific dollar amount that reduces the amount of income on which you’re taxed. The top tax rate will remain at 37% for married couples filing jointly,.