Standard Tax Deduction 2025 Married. Union finance and corporate affairs minister nirmala sitharaman announced the budget 2025 on tuesday where not only she revised the income tax rates in the new tax. The standard deduction for those over age 65 in tax year 2023 (filing in 2025) is $15,700 for singles, $29,200 for married filing jointly if only one partner is over 65 (or $30,700 if both are).
See current federal tax brackets and rates based on your income and. For the tax year 2025, the standard deduction for married couples filing jointly will increase to $29,200, an increase of $1,500 over the tax year 2023.
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