Standard Tax Deduction 2024 For Seniors. The standard deduction is a specific dollar amount that reduces the amount of income on which you're taxed. The first automatic tax benefit of being a senior comes from a larger standard deduction.
For 2024, that extra standard deduction is $1,950 if you are single or file as head of household. Here are six tax deductions for seniors that may help you save a little more at tax time.