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

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    The standard deduction amounts for 2023 are $27,700 if you’re married filing jointly (an increase of $1,800 from 2022), $20,800 for heads of households (a $1,400 gain) and $13,850 for single ...

  3. Best Perks for Seniors in All 50 States - AOL

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    65% of Social Security income is exempt from taxes; in 2022, all Social Security income is exempt from taxes. $8,000 income tax deduction for most seniors 65 and older. West Virginia University ...

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

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    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 ...

  5. Retirees Often Overlook These 11 Tax Deductions - AOL

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    For tax year 2023, the addition to the standard deduction for individuals 65 and older is $1,850 for single filers and $1,500 each for married taxpayers. There is an additional increase to the ...

  6. 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 ...

  7. Taxes 2022: Important changes to know for this year's ... - AOL

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    Taxes 2022: Important changes to know for this year's tax season ... a senior tax research analyst at H&R Block. ... you can get take the standard deduction and still deduct up to $300 for single ...

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