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Get your taxes done using TurboTax
Well, now that you can look at your form 1040SR....the reason for a larger than normal refund (But not if a "massive" one) could be 2 increased deductions for seniors.
1) If you end up with using the Std Deduction, that is much larger for Srs....that's on line 12e of the form 1040
2) And new for 2025 taxes, an additional deduction "up-to" 6,000/spouse over age 65....i.e. as much as 12,000 if both spouses were at leas age 65 during 2025. That extra deduction shows up as part of, or all of line 13b on the form 1040. (I say, it can be "part of" line 13b, because a couple other new deductions may add into that line ((overtime, tips and certain vehicle loan interest situations)
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
Wednesday