As of 2013, taxpayers who are 65 years of age or older by Dec. 31 of the tax year are entitled to higher standard deductions, explains Nolo. Taxpayers can claim a higher deduction if their spouse is older than 65, and they file joint returns.
Continue ReadingFor the 2014 tax year, taxpayers age 65 or older may add another $1,500 to their standard deduction if filing single or head-of-household, says Efile.com. Taxpayers who are married filing jointly with a spouse 65 or older can add another $1,200. If both taxpayers are age 65 or older, they can add another $2,400 to their deduction.
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