- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Tax law changes
No. It is 6,000 for each spouse over 65. The maximum deduction is $6,000 for each person 65. The phaseout is 6% of the amount by which MAGI exceeds $75,000 for single or $150,000 for married filing jointly (MFJ). The MAGI is normally the same as your AGI but with Foreign added back in. On a joint return the phaseout is calculated separately for each person, so the 6% phases out $6,000 for each person. This deduction is intended to provide tax relief for seniors and is in addition to the existing standard deduction. Expires December 31, 2028.
Here's a spreadsheet I made......
‎November 10, 2025
11:20 AM