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Level 1
posted Feb 10, 2024 8:59:35 AM

Is there any credit for being over 65 years old?

Is there any additional credits to take for being over 65 years old?

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2 Replies
Level 15
Feb 10, 2024 9:08:12 AM

You receive an additional amount for the Standard Deduction if you are age 65 or older.

 

Standard deductions for 2023

Single - $13,850 add $1,850 if age 65 or older
Married Filing Separately - $13,850 add $1,500 if age 65 or older
Married Filing Jointly - $27,700 add $1,500 for each spouse age 65 or older
Head of Household - $20,800 add $1,850 if age 65 or older

Level 15
Feb 10, 2024 9:51:04 AM

if your income is low enough and generally 65 or over and adjusted gross income (AGI)

with a filing  status other than joint return  AGI less than $17,500 

or if filing jointly one spouse AGI less than $20,000

or filing jointly and both 65 or over AGI less than $25,000

or married filing separately AGI less than $12,500

there is a credit for the elderly computed on schedule R.