- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
There are no special deductions for seniors with the exception of an increased standard deduction amount and the Credit for the Elderly and Disabled which hardly anyone qualifies.
Schedule A lets you report certain deductible expenses like:
- Medical and dental costs above and beyond 7.5% of your AGI
- State, local, real estate, and personal property taxes
- Home mortgage interest
- Charitable donations and gifts
- Casualty or theft losses
- Unreimbursed employee expenses above and beyond 2% of your AGI
‎June 3, 2019
12:47 PM