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0714lucy
New Member

Can you be 66 for the elderly credit

 
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3 Replies
Hal_Al
Level 15

Can you be 66 for the elderly credit

Yes.  The qualification is 65 or older.

 

But, although there is a credit for the elderly or disabled (you don't have to be both),  because it has not been adjusted for inflation since 1983, very very few people qualify. If you qualify, TurboTax (TT) will automatically calculate it. It goes on Schedule 3, line 6d (2021).  It is not a refundable credit. That is, you must have a tax liability to offset to get the credit. Very few people, with that little income have an actual tax to offset. 

 Having any social security income at all works against you. Essentially your potential credit is reduced by any tax you "shoulda paid” on the untaxed Social security income. If you have more than $5000 social security ($7500 Married Filing Jointly and both are elderly or disabled) or VA benefits you will not qualify for the credit.

If you think you qualify, and TT missed it, In TurboTax (TT), enter at:

Federal Taxes Tab

Deductions & Credits

-Scroll down to:

--Other deductions & Credits

  -Elderly or Disabled credit

See schedule R for detailed calculations. https://www.irs.gov/pub/irs-pdf/f1040sr.pdf

 

A simplified  rule of thumb is:  if you have earned a  social security benefit, including SSDI, you won't qualify for the Credit for the Elderly and Disabled.

Can you be 66 for the elderly credit

You may be eligible for the Credit for the Elderly or the Disabled if you are age 65 or older and your income is under the limits for the credit.

 

See IRS Publication 524, Credit for the Elderly or the Disabled on page 3 for being a Qualified Individual and page 5 for Income Limits - https://www.irs.gov/pub/irs-pdf/p524.pdf#page=3

DMarkM1
Expert Alumni

Can you be 66 for the elderly credit

Yes.  The age requirement for credit for the elderly is 65 or older.  There are other requirements that must also be met such as income limits.  Check this IRS FAQ for more information on the credit as well as links to Publication 524 for even more details.  

 

   

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