Taxpayers aged 65 and older with a valid Social Security number are eligible for a $6,000 personal exemption beginning in 2025. This exemption will be available through 2028. If married, the Seniors must file jointly to claim the exemption for both spouses.
If your modified adjusted gross income exceeds $75,000 ($150,000 for filing jointly), the $6,000 exemption shall; be reduced by 6% of the taxpayer's modified adjusted gross income that exceeds exceeds $75,000 ($150,000 for filing jointly). However, the $6,000 cannot be reduced below zero.
