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Is there a tax break for seniors this year?

 
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3 Replies

Is there a tax break for seniors this year?

Kind of.  Married couples over 65 get an extra $1,300 per person added to their standard deduction.  Single seniors over 65 get an extra $1,600. 

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Chidley
New Member

Is there a tax break for seniors this year?

Where do I designate that Exemption in Turbo Tax and how do I get it to print on my return (Step 4, Item #10)?

Is there a tax break for seniors this year?


@Chidley wrote:

Where do I designate that Exemption in Turbo Tax and how do I get it to print on my return (Step 4, Item #10)?


There are no personal exemptions, those were eliminated from the tax code after tax year 2017.

 

The additional amount added to the Standard Deduction is automatically entered on your tax return by the TurboTax program if you and/or your spouse are age 65 or older.  The Standard Deduction is shown on Form 1040 Line 9

Standard deductions for 2019

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older
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