Standard Deduction 2025 Tax Year For Seniors. Taxpayers under age 50 can contribute $7,000 to an ira in 2025. For single taxpayers and married individuals filing separately in tax year 2025, the standard deduction is rising to $15,000 — up $400 from 2024.
For heads of households, the standard deduction will be $22,500 for tax year 2025, up $600 from 2024. The extra deduction amount differs based on filing status and whether the taxpayer or.
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