Filing rules matter. The deduction phases out at higher earnings. You must file a new Schedule 1-A. 31, 2025, are eligible for the new deduction, according to the IRS. It applies regardless of whether you itemize or take the standard deduction. The standard deduction has been super-sized for seniors. Jan 2, 2026 · As Kiplinger has reported, taxpayers 65-plus who typically claim the standard deduction can claim the up to $6,000 bonus deduction (or $12,000 for married couples when both are age 65-plus). Oct 27, 2025 · See the new 2026 tax deductions for seniors age 65+. Refunds may increase significantly. It also provides an extra $750 to the standard deduction for single taxpayers and $1,500 for married couples in 2025 and adjusts those amounts for inflation yearly beginning in 2026. 1 day ago · Older Americans may qualify for a new $6,000 IRS tax deduction in 2026. The deduction phases out for incomes above $75,000 (single filers) or $150,000 (joint filers). Jul 8, 2025 · Adults 65 and older may qualify for a new $6,000 deduction, in addition to existing standard deductions. 4 trillion from 2025-2034. Thanks to provisions in the One Big Beautiful Bill Act, 3 days ago · Starting for the 2026 tax season, seniors aged 65 and older can claim an additional $6,000 deduction. The deduction provides $6,000 for each qualifying individual, or $12,000 for married couples who Jan 16, 2026 · Joint filers over 65 will be able to deduct up to $46,700 from their 2025 return. Details could change your tax outcome. Millions of Americans over 65 will qualify for a new $6,000 deduction on their 2025 tax returns. The new enhanced Jun 12, 2025 · OBBB permanently extends the doubled standard deduction from TCJA. This added relief comes as older adults continue to face mounting financial pressure from rising Jan 15, 2026 · People who turned 65 by Dec. Altogether, these changes are projected to cost $1. Income limits apply. . Learn about the new $6,000 bonus deduction, income limits, and increased 2026 standard deduction amounts. The benefit targets seniors facing rising healthcare, grocery, and housing costs. Millions of Americans over 65 will qualify for a new $6,000 deduction on their 2025 tax returns. Jan 16, 2026 · A new, temporary 'senior bonus' will enable many taxpayers age 65 and older to deduct up to $6,000 in income from their federal returns. Eligible taxpayers aged 65 and older could save up to $1,320. Here are all the details and how to claim the deductions.

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