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bwaters2
New Member

is there a $6,000.00 tax credit for seniors for Social Security?

How do I deduct the Social Security tax credit for seniors?
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1 Best answer

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rjs
Level 15
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

is there a $6,000.00 tax credit for seniors for Social Security?

There is a deduction for seniors (65 or older), not a credit. And it has nothing to do with Social Security. The maximum deduction is $6,000, but it is gradually reduced if your Modified Adjusted Gross Income (MAGI) is over $75,000 ($150,000 if married filing jointly). The deduction is reduced to zero if MAGI is $175,000 or more ($250,000 if married filing jointly).

 

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.

 

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1 Reply
rjs
Level 15
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

is there a $6,000.00 tax credit for seniors for Social Security?

There is a deduction for seniors (65 or older), not a credit. And it has nothing to do with Social Security. The maximum deduction is $6,000, but it is gradually reduced if your Modified Adjusted Gross Income (MAGI) is over $75,000 ($150,000 if married filing jointly). The deduction is reduced to zero if MAGI is $175,000 or more ($250,000 if married filing jointly).

 

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.

 

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