The One Big Beautiful Bill Act increased the standard deduction and added a new deduction for seniors as follows:
Updated Amounts
Married Filing Jointly & Surviving Spouse: $31,500
Head of Household: $23,625
Single & Married Filing Separately: $15,750
Additional Deduction for Seniors
There’s a new additional deduction of $6,000 per person for taxpayers 65 and older. This is in additional to the current additional standard deduction for seniors under existing law. The deduction starts to get reduced if your modified adjusted gross income exceeds $75,000 or $150,000 for joint filers. This deduction is effective for years 2025 through 2028.
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