Yes, the extra senior deduction is effective for tax year 2025.
New $6,000 "Senior Bonus" Deduction (2025-2028)
- Amount: Up to $6,000 for single filers and heads of household. For married couples filing jointly, it is $12,000 if both spouses are eligible (age 65 or older).
- Income Limits: The deduction begins to phase out if your Modified Adjusted Gross Income (MAGI) exceeds certain thresholds and is completely eliminated for higher incomes:
- Single/Head of Household: Phases out above $75,000 MAGI, eliminated at $175,000.
- Married Filing Jointly: Phases out above $150,000 MAGI, eliminated at $250,000.
