topic I want to know more about senior discounts and retirement income verses full time employment…. in Retirement tax questions

I want to know more about senior discounts and retirement income verses full time employment….

d-schinkel — Mon, 15 Dec 2025 20:52:32 GMT

Tell me more about senior discounts and retirement income and taxes on that income.

Re: I want to know more about senior discounts and retirement income verses full time employment….

Opus 17 — Mon, 15 Dec 2025 21:41:52 GMT

What discounts?

Almost all income is taxed in retirement just like when you are working, except for Social Security and withdrawals from Roth IRAs. Your SS benefit is not taxed if it is your only income. If you have other taxable income, then your SS benefit may also be taxed. If you perform work after you are retired, your income from working is subject to social security and medicare tax, even though you are also collecting a benefit. If you have income other than social security, you file a tax return like normal and calculate whatever tax you owe.

For 2025-2027, there is a special extra tax deduction for seniors that reduces your taxable income and will reduce your tax even more than normal.

Re: I want to know more about senior discounts and retirement income verses full time employment….

rjs — Mon, 15 Dec 2025 22:44:45 GMT

The Deduction for Seniors is effective for 2025 through 2028.

Re: I want to know more about senior discounts and retirement income verses full time employment….

xmasbaby0 — Tue, 16 Dec 2025 01:15:34 GMT

Or...if you are asking if there are discounted TurboTax fees for seniors--no, there are not. Your TT fees are based on which version of the software you use to prepare your tax return, not on your age.