Social Security will not be impacted by the BBB and will have the cost of living adjustment for 2025 which is an increase. The BBB will have an additional senior deduction (2025 through 2028) - additional $6,000 deduction for taxpayers 65 and older with phaseout for MAGI over $75,000 (over $150,000 for Married Filing Jointly filers).
Have an amazing day. Evelyn M (CPA 20+ years)
I would love a thumbs up 🙂 + Mark the post that answers your question by clicking on "Mark as Best Answer"
