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The new $6,000 bonus deduction will be available to individuals age 65 and older, with eligibility set at $75,000 in income for single filers and $150,000 for couples, and phasing above those. Beginning in 2025, taxpayers aged 65 or older will be eligible for a new $6,000 federal tax deduction This new deduction is in addition to the current additional standard deduction for seniors under existing law

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The $6,000 senior deduction is per eligible individual (i.e., $12,000 total for a married couple where both spouses qualify) If you're married, filing jointly or separately, the extra standard deduction amount is. Deduction phases out for taxpayers with modified adjusted gross income over $75,000 ($150,000 for joint filers).

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Seniors age 65 and older can now take an additional $6,000 deduction on top of their standard or itemized deductions, based on changes from the one big beautiful bill

The new deduction for seniors over 65 will start to phase out for those with higher incomes. Currently, the irs allows taxpayers 65 or older (or those who are blind) to claim an additional standard deduction beyond the regular standard deduction amount For 2025, this existing extra deduction is expected to be around The new law adds another $6,000 for qualifying seniors with moderate incomes.

It’s a new $6,000 “bonus” deduction for seniors, and for a married couple, it can be worth $12,000 This is not a proposal This is a new law, passed as part of the “one big beautiful bill act” (obbba), and it takes effect for the 2025 tax year (the return you will file in 2026). The recently introduced senior tax deduction aims to provide additional relief to taxpayers age 65 and older

Does the deduction apply to 2025 taxes

Do seniors still have to pay taxes on social security Today’s seniors are actively seeking answers to these questions and will rely on their accountants to provide guidance. On top of those increases to the standard deduction, obbb adds an additional $6,000 deduction (per individual) for taxpayers 65 or older This new deduction supplements a preexisting addition to the standard deduction for seniors of $2,000 for single filers and $1,600 per qualifying individual for married filers.

For 2025, the additional standard deduction is $2,000 if you are single or file as head of household