The IRS has a short PDF out that states the standard deduction for single status will be 12K but then adds that it will be more for those over 65yo. It does not say what that is.
IRS Pub 5307(12 pages) https://www.irs.gov/pub/irs-pdf/p5307.pdf
I took this from a Forbes article it adds to kaneohe’s response.
“For 2018, the additional standard deduction amount for the aged or the blind is $1,300. The additional standard deduction amount increases to $1,600 for unmarried taxpayers.
For 2018, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,050 or the sum of $350 and the individual’s earned income.
There will be no personal exemption amounts for 2018”
As pointed out by Sunny in the November 26th post, we have to be careful when making statements. It is my understanding the standard deduction amount for people age 65 and over is dependent on filing status. For a couple filing MFJ the additional amount for each person age 65 and over is $1300. For all other filing statuses the additional amount is $1600. Tom D