2024 Standard Deduction Over 65 Married. The standard deduction is a specific dollar amount that reduces the amount of income on which you're taxed. Ellen’s standard deduction for 2024, assuming no changes, would be $16,550:

You pay tax as a percentage of your income in layers called tax brackets. You can claim a standard deduction to reduce your taxable income as well as an additional deduction if you are age 65 or older and/or blind.