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redhattweett
Returning Member

Last year President Trump authorized an additional tax Credit for Srs. This was not shown by turbo ax at the time we submitted our taxes, how do we fix this?

 
1 Best answer

Accepted Solutions
DoninGA
Level 15

Last year President Trump authorized an additional tax Credit for Srs. This was not shown by turbo ax at the time we submitted our taxes, how do we fix this?

No there is not an additional tax credit for seniors in the tax code passed by Congress.

If you are age 65 or older there is an increase in the standard deduction, which has also been available for prior tax years.

Standard deductions for 2018 

  • Single - $12,000 add $1,600 if age 65 or older
  • Married Filing Separately - $12,000 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,000 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,000 add $1,600 if age 65 or older

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1 Reply
DoninGA
Level 15

Last year President Trump authorized an additional tax Credit for Srs. This was not shown by turbo ax at the time we submitted our taxes, how do we fix this?

No there is not an additional tax credit for seniors in the tax code passed by Congress.

If you are age 65 or older there is an increase in the standard deduction, which has also been available for prior tax years.

Standard deductions for 2018 

  • Single - $12,000 add $1,600 if age 65 or older
  • Married Filing Separately - $12,000 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,000 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,000 add $1,600 if age 65 or older
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