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Retirement tax questions
You don't have to enter anything to get the deduction for seniors. TurboTax will give it to you automatically based on the birth date that you entered in your personal information.
The maximum deduction for seniors is $6,000, or $12,000 if married filing jointly and both are 65 or older. The deduction is gradually reduced if Modified Adjusted Gross Income (MAGI) is over $75,000 ($150,000 if married filing jointly), so if your income is over that amount you will not get the full $6,000 per person. The deduction is reduced to zero if MAGI is $175,000 or more ($250,000 if married filing jointly).
a week ago