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senior tax credit

With the senior tax credit ,,im over 65 but my wife is 61 how will that work

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senior tax credit

The spouse who is 65 or older gets the extra $6000 credit.  Your 61 year old spouse does not get the credit.   You can still file a joint return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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4 Replies

senior tax credit

The spouse who is 65 or older gets the extra $6000 credit.  Your 61 year old spouse does not get the credit.   You can still file a joint return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

senior tax credit

How does the senior tax credit work? Do you just take up to $6,000 (your tax liability) at the end of the return? 

Cindy4
Employee Tax Expert

senior tax credit

There is a new deduction for seniors under the bill.  It will reduce your taxable income.  The IRS will be revising forms to include a line to list the $6,000 credit and then subtract it from your taxable income. 

For example:  If you are in the 12% tax bracket it would reduce your taxes by $720.

 

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AmitaR
Employee Tax & Finance Expert

senior tax credit

$6,000 is not a reduction in tax liability.  It is a reduction of Taxable Income.

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