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Where do i enter the new 6k senior tax credit ??

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

Where do i enter the new 6k senior tax credit ??

You don't enter anything for the new deduction for seniors. TurboTax will give it to you automatically based on the birth date that you entered in your personal information.


The deduction for seniors is a deduction, not a credit. It reduces your taxable income, not your tax. The maximum deduction is $6,000 per person, but the maximum is gradually reduced over certain income levels, so you don't necessarily get the full $6,000.

 

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

Where do i enter the new 6k senior tax credit ??

You don't enter anything for the new deduction for seniors. TurboTax will give it to you automatically based on the birth date that you entered in your personal information.


The deduction for seniors is a deduction, not a credit. It reduces your taxable income, not your tax. The maximum deduction is $6,000 per person, but the maximum is gradually reduced over certain income levels, so you don't necessarily get the full $6,000.

 

Where do i enter the new 6k senior tax credit ??

The $6,000 senior deduction will be calculated* on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors. From there, it goes to line 13b of form 1040. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e.  Turbo Tax automatically includes it.

 

*Most people get the full $6000 ($12,000 married filing jointly). But for people over a certain income, it is reduced. 

 

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