For example, under pre-2018 laws, a 70 -
year - old retired couple who pay $ 10,000 in state income tax, $ 5,000 in property taxes and $ 10,000 in charitable gifts would typically itemize their deductions, because they total $ 25,000
vs. their $ 15,200 standard deduction ($ 12,700 plus $ 1,250 over age 65
per person additional deduction).