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Learn how to claim an additional standard deduction if you're 65 or older at the end of the tax year. Find out who is eligible, how much to deduct, and what other factors affect your standard deduction.

Learn about the special tax benefits for older taxpayers, such as higher standard deduction, credit for the elderly or the disabled, and Form 1040-SR. Find out how to file your return, get social security information, and avoid scams.

Learn how the extra standard deduction for older adults will increase slightly in 2025, along with the regular standard deduction and the income tax brackets. Find out how these changes may affect your tax situation and planning.

Learn how to claim the extra standard deduction for people aged 65 or older, which can reduce your taxable income and save you money. Find out the eligibility criteria, the amount of the deduction, and how it affects your tax filing.

To qualify for the extra standard deduction, you must meet specific age and filing requirements. First, you need to be at least 65 years old by the end of the tax year. This applies regardless of marital status. The eligibility extends to both single and married filers. If married, each spouse over 65 can claim the additional amount.

The IRS typically considers you a senior when you reach age 65. You're considered 65 for the entire tax year if your 65th birthday falls on or before the last day of the tax year. This means if you turn 65 on December 31, 2025, you qualify for senior tax benefits for all of 2025. The IRS counts you as 65 the day before your 65th birthday.

$1,500 for married taxpayers (per qualifying person) or qualifying surviving spouse (a married couple of two 65+ adults would take a total deduction of $27,700 (standard deduction) + $1,500 for ...

If your taxes are straightforward—meaning you’re not a small business owner or don’t itemize complex deductions—you likely take the standard deduction. Once you’re 65 or older, the standard deduction increases. For the 2024 tax year (filed in 2025): Single or married filing separately: $15,00

The tax code provides an additional amount for those over 65. This extra deduction can lower taxable income. As a result, seniors often see reduced tax liabilities. Qualifying for the higher deduction is straightforward. You must turn 65 by December 31 of the tax year. If you qualify, your tax preparation can become more straightforward.

Here are the standard deduction amounts available for tax year 2025: Filing Status: Standard Deduction Amount: Single: $15,000: Married Filing Jointly: $30,000: Married Filing Separately: $15,000: ... If you’re 50 years old or over, you can add another $7,500 as a catch-up contribution (for a grand total of $31,000.)

The alternative is to itemize deductions, which involves claiming individual deductions on your federal income tax return. Common itemized deductions include things like mortgage interest and charitable donations. The amount of your standard deduction depends on several different factors. For example: Your filing status; Whether you are 65 or older

Tax Deductions 2025 Standard Deduction: What You Need to Know ... Here’s what the IRS has announced for the 2025 tax year: Standard Deduction Amounts for 2025. Filing Status 2025 Deduction 2024 Deduction; ... If you're age 65 or older or legally blind, the IRS gives you a little more breathing room. Here’s how much more you can deduct:

Individuals who are 65 years old or blind can claim an additional $1,300-$1,700 standard deduction. The Internal Revenue Service (IRS) gives seniors a more significant standard deduction when they turn 65. A standard tax reduction is a part of your income that is not taxed, thus reducing your overall tax bill.

If you and your spouse are younger than 65 years old, the IRS requires you to file a return if your gross income exceeds the following amounts, based on your filing status. ... For tax year 2024, if you are 65 or older, you may increase your standard deduction by $1,950 if you file Single or Head of Household. If you are Married Filing ...

Additional Standard Deduction. At 65, individuals qualify for an increased standard deduction on their federal income tax return, which reduces taxable income and lowers tax liability. For the tax year 2024, the IRS offers an additional deduction of $1,850 for single filers and $1,500 for each spouse if married and filing jointly.

Seniors Aged 65 or Older: To qualify, you must be 65 years old or older by the end of the tax year. For tax purposes, you are considered 65 on the day before your 65th birthday. ... you can each claim an extra standard deduction of $1,550 for the 2024 tax year. If either of you is both 65 or older and blind, that person can claim a total extra ...

The U.S. tax system recognizes that seniors over 65 may have unique financial situations. An extra standard deduction is available to help reduce their tax burden. This additional deduction aims to provide some financial relief during retirement. Seniors qualify for this deduction simply by reaching the age of 65 before the end of the tax year.

Seniors over 65 benefit from a higher standard deduction amount. This increase is a valuable tax break for eligible individuals. It’s important to know the specific amounts for this tax year. For the current tax year, the standard deduction for seniors 65 and older is higher than the general deduction.

If you’re age 65 or older at the end of the tax year, you are allowed an additional standard deduction amount of $1,600 for 2025. Blind taxpayers are also eligible for this deduction amount.