Standard Deduction For 2024. If you are 65 or older and blind, the extra standard deduction for 2024 is $3,900 if you are single or filing as head of household. Your standard deduction — the amount you can use as a deduction on your 1040 tax return without itemizing — will also be higher.

The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed. The standard deduction is a specific dollar amount that reduces the amount of income on which you’re taxed.