Standard Deduction For 2024 Tax Year Over 65 . If you don't itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year. In 2022, lawmakers increased the standard homestead deduction from $45,000 to $48,000 and expanded the eligibility for tax deductions for senior homeowners over.
The personal exemption for 2024 remains at. Hybrid funds with at least 65% exposure to equity can now claim ltcg benefits after holding for over 24 months.
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