rjs
Level 15
Level 15

Retirement tax questions

The $6,000 Deduction for Seniors is a deduction, not a credit. It has nothing to do with your Social Security benefits. It's based only on your age. The Deduction for Seniors is intended as a substitute for the campaign promise of no tax on Social Security, but there is no actual change in the tax on Social Security benefits.


The Deduction for Seniors is calculated in Part V of Schedule 1-A and it is included in the total additional deductions on line 13b of Form 1040 or 1040-SR.


The $6,000 is a maximum. Not everyone gets the full $6,000. Your deduction will be less than $6,000 if your income is above the phase-out threshold that DoninGA mentioned. The amount of your Deduction for Seniors is on Schedule 1-A line 37.

 

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