Currently, taxpayers aged 65 and over may exclude up to $65,000, while those 62 to 64 (as well as those
permanently and totally disabled) may exclude up to $35,000. The exclusion applies to retirement income such
as capital gains, interest, and pensions, as well as up to $4,000 of earned income.
Did he have other income such as capital gains, taxable Social Security and interest which along with the $4,000 of earned income being excluded would equal the $15,004?
