Deductions & credits

JohnB5677 · ‎February 11, 2026

Is your birthday 12/31/1960 in TurboTax My Info?

Also, your income is based on your Modified Gross Income.

For the new 2025/2026 senior tax deduction, calculate Modified Adjusted Gross Income (MAGI) by taking your Adjusted Gross Income (AGI) from Form 1040 line 11a
- And adding back specific deductions like
- Student loan interest,
- Foreign-earned income, and
- Nontaxable Social Security benefits.
If your MAGI exceeds $75,000 (single) or $150,000 (married), the maximum $6,000 deduction is reduced by 6% of the excess.

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