Finance & Jobs

2025 Standard Deductions for Seniors 65 or Older

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For the 2025 tax year, the standard deduction amounts have been adjusted for inflation. Here’s a breakdown:

Standard Deduction Amounts for 2025:

  • Single Filers: $15,000
  • Married Filing Jointly: $30,000
  • Head of Household: $22,500

Taxpayers aged 65 and older are eligible for an additional standard deduction. In 2025, this additional amount is $2,000 for single filers and $1,600 per qualifying individual for married couples filing jointly. Therefore, a single filer aged 65 or older would have a total standard deduction of $17,000 ($15,000 + $2,000), and a married couple filing jointly, where both spouses are 65 or older, would have a total standard deduction of $33,200 ($30,000 + $1,600 + $1,600).

kiplinger.com

Comparison to 2024 Standard Deductions:

  • Single Filers:
    • 2024: $14,600
    • 2025: $15,000
    • Increase: $400
  • Head of Household:
    • 2024: $21,900
    • 2025: $22,500
    • Increase: $600
  • Married Filing Jointly (both spouses 65 or older):
    • 2024: Base standard deduction of $29,200 plus additional deductions of $1,550 per spouse, totaling $32,300.
    • 2025: Base standard deduction of $30,000 plus additional deductions of $1,600 per spouse, totaling $33,200.
    • Increase: $900

Impact of 2025 Deduction Changes:

The increases in the standard deduction for 2025 mean that taxpayers can exclude more of their income from taxation, potentially lowering their tax liability. For seniors aged 65 and older, the additional standard deduction further reduces taxable income, providing extra tax relief. These adjustments are designed to keep pace with inflation and help maintain the purchasing power of taxpayers.

irs.gov

Sources for Further Reading:

These resources provide detailed information on the standard deduction and other tax-related changes for the 2025 tax year.