Form 1040-SR (U.S. Tax Return for Seniors) is not a new tax—it is an alternative, age-friendly version of the standard Form 1040. For the 2024 tax year (filed by April 15, 2025), it remains identical to Form 1040 in calculations, tax rates, deductions, and credits. The differences are purely design and layout.
| Filing Status | Regular 2024 Deduction | Extra if Age 65+ | Total for 2024 | |---------------|------------------------|------------------|----------------| | Single / Head of Household | $14,600 | +$1,950 | | | Married Filing Jointly (one spouse 65+) | $29,200 | +$1,550 | $30,750 | | Married Filing Jointly (both spouses 65+) | $29,200 | +$3,100 | $32,300 | | Married Filing Separately (and 65+) | $14,600 | +$1,550 | $16,150 | irs 1040 sr 2024