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Where is the $6000 bonus senior deduction on the return?

Does Turbotax include the $6000 senior bonus deduction on returns?
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2 Replies
MindyB
Expert Alumni

Where is the $6000 bonus senior deduction on the return?

Yes. The extra $6,000 (Enhanced Deduction for Seniors) is an additional deduction, that is separate, not included with the standard deduction. This additional deduction for seniors is calculated automatically based on the birthday you have entered in your tax return.

  

Note, this deduction has income limitations.  It begins phasing out at income of $75,000 for a single filer (or $150,000 married) and is completely phased out at income of $175,000 for a single filer (or $250,000 married).

 

This deduction is located on Schedule 1-A Additional Deductions, Part V. The total additional deductions will be summed and appear on your 1040, line 13b.

 

You can check this in TurboTax Online by navigating to Tax Tools on the left of your screen, choose Tools, then View Tax Summary. On the left of the screen, select Preview my 1040, then scroll to Schedule 1-A Part V for the Enhanced Deduction for Seniors.

Where is the $6000 bonus senior deduction on the return?

It is automatic based on your age. It is not part of your Standard Deduction. The new Senior Deduction is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b with any other sch 1-A amounts. Turbo Tax automatically includes it if you qualify.

For Single the deduction starts to phase out at 75,000 and maxes out at 175,000
For Joint the deductions starts to phase out at 150,000 and maxes out at 250,000
If you are married you have to file a Joint return
And your SSN must be VALID for employment. Do NOT check the box saying Not Valid under My Info.


For Online version You can preview the 1040 or print the whole return
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...

What do you have on 1040 or 1040SR line 13b?

See the 1040 ….
VolvoGirl_Macro 10_SS 6000 1040.jpg

 

 

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