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2. Taxes 2023: What's the standard deduction for people over 65?

   www.aol.com/standard-deduction-people-over-65...

   The IRS considers an individual to be 65 on the day before their 65th birthday. The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for ...

3. Retirees 65 and Older Eligible for Extra Standard Deduction ...

   www.aol.com/retirees-65-older-eligible-extra...

   A married couple of two 65+ adults would take a total deduction of $27,700 (standard deduction) plus $1,500 for one 65+ adult plus $1,500 for second 65+ adult — a total of $30,700.

4. Seniors and Taxes: Is There an End in Sight? - AOL

   www.aol.com/im-senior-ever-stop-filing-130049547...

   Basically, if you’re 65 or older, you have to file a tax return in 2022 if your gross income is $14,700 or higher. If you’re married filing jointly and both 65 or older, that amount is $28,700 ...

5. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   Under United States tax law, the standard deduction is a dollar amount that non- itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount of tax ...

6. Tax Cuts and Jobs Act - Wikipedia

   en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act

   For single filers, the standard deduction will increase from $6,350 to $12,000. About 70% of families choose the standard deduction rather than itemized deductions; this could rise to over 84% if doubled. The personal exemption is eliminated—this was a deduction of $4,050 per taxpayer and dependent, unless it is in an estate or trust. [27 ...

7. What Is the Standard Deduction Amount for 2022-2023 and When ...

   www.aol.com/difference-between-standard...

   Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. Married, filing jointly: $25,900 for 2022, $27,700 for 2023.

8. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

   www.aol.com/finance/10-tax-deductions-know-2023...

   Married couples filing together can deduct $25,900, and heads of household can deduct $19,400. Individuals who are 65 or older and those who are blind can claim an additional $1,750 for tax-year ...

9. Personal exemption - Wikipedia

   en.wikipedia.org/wiki/Personal_exemption

   Not to be confused with Standard deduction. Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. In 2017, the personal exemption amount was $4,050, though the exemption is subject ...