Great News for Seniors: New $6,000 Deduction for 2025–2028!

Starting in 2025, seniors age 65 and older can claim a brand new $6,000 tax deduction each year, regardless of whether you itemize deductions or claim the standard deduction! If both spouses in a married couple are 65 or older, you can claim $12,000 together.

 

Who qualifies? You must be at least 65 years old by the end of the tax year. The deduction is available whether you take the standard deduction or itemize your deductions. To claim it, you must include the Social Security Number of each qualifying individual on your tax return. If you’re married, you must file jointly to get the full benefit for both spouses.

 

Income Limits There is an income limit: the deduction starts to phase out if your modified adjusted gross income is over $75,000 ($150,000 for joint filers).

This new deduction is in addition to the regular extra standard deduction for seniors, making it even easier for older Americans to lower their tax bill. Whether you itemize or not, don’t miss out on this valuable tax break if you’re 65 or older!

 

Don’t worry – we will make sure you claim this additional deduction if you qualify!