All Posts

Phone support is not provided with the Free Edition.  If you are using a paid version of the software or if you purchased PLUS you can get phone support when customer support is there.  Otherwise, post your question here and someone will try to help.   To call TurboTax customer support https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh

For the 2025 tax year, a married couple filing jointly where both spouses are 65 or older may be able to claim a total deduction of up to $46,700, combining the regular standard deduction with two separate senior deductions.  The deduction consists of three parts: Regular Standard Deduction: $31,500 for married couples filing jointly. Existing Additional Standard Deduction for Seniors: $1,600 per qualifying spouse. If both are 65 or older, this is an additional $3,200 in total ($1,600 x 2). New Temporary Senior Deduction: A new deduction of up to $6,000 per eligible individual is available for tax years 2025-2028. If both spouses qualify, this is an additional $12,000 in total ($6,000 x 2).    Eligibility and Income Limits To be eligible for these deductions: A person is considered to be age 65 on the day before their 65th birthday, so you must turn 65 on or before December 31, 2025. The new $6,000 senior deduction is subject to income limits. It begins to phase out if your Modified Adjusted Gross Income (MAGI) is over $150,000 for married couples filing jointly and is completely phased out at $250,000. The existing additional standard deduction (the $1,600 per person amount) does not have an income limit and can be claimed regardless of income level. The new $6,000 bonus deduction can be claimed even if you itemize deductions, unlike the existing additional standard deduction which is for those taking the standard deduction. 

@airdisc , Namaste ji (a)  we need to distinguish between gift and inheritance ----- I am aware  that in India  we often do not make a distinction e.g.  a grandfather may say I want this prop to go to my granddaughter but the actual transfer  does not happen till after passing of the grandfather. (b) under US  tax laws,  a gift is a transfer  from a living donor to another and in such case the basis of the  asset so transferred  in the hands of the recipient is  the same as that of the donor.  Under some circumstances  it can be lower of FMV and that of the donor. (c) an inheritance  i.e. transfer after the passing of the decedent, always has a basis  ( for the recipient) equal to FMV at the time of passing of the decedent. Therefore it is very important to determine whether this transfer to your spouse  is a "gift" or "inheritance". I am aware that under current Indian tax laws you still have  two  different  regimes  --- indexed and at 20% or un-indexed at 12.5%.  Us does not have any indexing  and  it is pure diff.  between  sales proceeds  and basis but generally at capital tax rate. Hope this answers your query. Is there more I can do for you ?   You can always PM me ( just no PII -- Personally Identifiable  Information please ) . Namaste ji   pk