2025 Standard Deduction For Seniors. The 2025 standard deduction amounts are as follows: The standard deduction (used instead of itemized deductions) will increase by $400 for single filers and $800 for joint filers.
For an individual retirement account (ira), the standard cap for the 2025 tax year is $7,000. What are the standard deduction amounts for seniors for the current tax year?
