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[Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
The bonus deduction of $6000 is an additional deduction to the standard deduction for each taxpayer on the return over the age of 65 with a valid Social Security number. So for married filing jointly where both taxpayers are over 65, the amount will be $12,000 in bonus deduction.
So in your case, married filing jointly with both of you being over 65,
agi line #11 $83,710
the standard deduction for 2025 is $34,700 plus additional bonus deduction of $12,000
So taxable income, line #15 will be $37,010
Tax refund will not go up by the bonus deduction.
a week ago