Irs 2025 Standard Deduction For Seniors. The income limits for traditional ira deductions in 2025 contributions made to traditional iras can be deducted from taxable income in certain situations, depending on tax. Dependents benefit from a unique calculation that protects their earnings, while seniors receive higher.


Irs 2025 Standard Deduction For Seniors

If you’re over 65 and single, you can snag an additional standard deduction of $1,950 for 2024, and that bumps up to $2,000 in 2025. The standard deduction will go up to $15,000 for 2025 tax returns — up $400 from 2024 — for single taxpayers and married individuals filing separately.

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