The standard deduction is a specific amount that you can deduct from your taxable income before you calculate your taxes. It reduces your taxable income, potentially lowering your tax liability.
Standard Deduction for Senior Citizens in 2021
- Single: $13,850
- Married filing jointly: $27,700
- Married filing separately: $13,850
- Head of household: $20,800
Additional Standard Deduction for Age or Blindness
If you are age 65 or older, or blind, you are entitled to an additional standard deduction. For 2021, the additional standard deduction amount is $1,350. This means that the standard deduction for senior citizens who are age 65 or older, or blind, is:
- Single: $15,200
- Married filing jointly: $29,050
- Married filing separately: $15,200
- Head of household: $22,150
Qualifying for the Additional Standard Deduction
To qualify for the additional standard deduction for age or blindness, you must meet the following requirements:
- You must be age 65 or older on the last day of the tax year.
- You must be blind on the last day of the tax year. Blindness is defined as having central visual acuity of 20/200 or less in the better eye with the use of a correcting lens. It also includes having a field of vision of 20 degrees or less.
Claiming the Standard Deduction
You can claim the standard deduction by checking the appropriate box on your tax return. You do not need to itemize your deductions to claim the standard deduction.
Benefits of the Standard Deduction
The standard deduction is a valuable tax break, especially for senior citizens. It can significantly reduce your taxable income, potentially saving you money on your taxes.
Additional Resources
What is standard deduction for 2021 for seniors?
FAQ
What is the standard deduction in 2021 for over 65?
Do seniors get a larger standard deduction?
How much money can a 70 year old make without paying taxes?
What is the standard deduction for married filing jointly over 65 in 2024?
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Filing Status
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Deduction Amount
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Married Filing Jointly
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$29,200
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Head of Household
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$21,900
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Additional Amount for Married Seniors
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$1,550
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Additional Amount for Unmarried Seniors
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$1,950
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What is the standard deduction for seniors in 2021?
The standard deduction for single seniors in 2021 is $1,700 higher than the deduction for taxpayer younger than 65 who file as single or head of household. If you are Married Filing Jointly and you or your spouse is 65 or older, your standard deduction increases by $1,350 each.
How much is a standard deduction in 2021?
If both you and your spouse are 65 or older, your standard deduction increases by $2,700. Different Filing Threshold: A single tax payer can have gross income of up to $14,250 before required to file a tax return in 2021. The tax-filing threshold is $27,800 for couples when both are age 65 and older.
Do I get a standard deduction if I turn 65?
When you turn 65, you become eligible for an additional standard deduction on top of the regular standard deduction. However, the amount of this extra deduction can vary based on factors like filing status and whether you or your spouse are 65 or older. Whether you or your spouse is blind is another factor.
When is a 65 year old tax deductible?
Additional standard deduction – You’re allowed an additional deduction if you’re age 65 or older at the end of the tax year. You’re considered to be 65 on the day before your 65th birthday (for tax year 2023, you’re considered to be 65 if you were born before January 2, 1959).