2024 Standard Deduction Amount Over 65

2024 Standard Deduction Amount Over 65. Further section 80ddb of the income tax act allows tax deduction on expenses incurred by an individual on himself or a dependent towards the treatment of specific diseases as stated in. A deduction reduces the amount of a taxpayer's income that's subject to tax, generally reducing the amount of tax the individual may have to pay.

The additional standard deduction amount for 2024 is $1,550 ($1,950 if unmarried and not a. For 2024, the additional standard deduction amount for the aged or the blind is $1,550.