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OBBB with Standard Deduction

I am using TurboTax online which gives running calculation of expected return. The standard deduct is applied but not the OBBB. The answers thus far are not answering the issue. My expected return is NOT reduced by this $12000 OBBB. When I inputted no social security payments my return was about $5500. With social security payments included it was reduced to about $1600 so clearly this OBBB is not being credited under the standard deduct. I don't have any reason to itemize at this point in my life. WHERE is the OBBB being show? I should be getting a lot more money back than TurboTax is showing. 

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5 Replies

OBBB with Standard Deduction

If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.

 

Standard deductions for 2025

Single - $15.750 add $2,000 if age 65 or older
Married Filing Separately - $15,750 add $1,600 if age 65 or older
Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older
Head of Household - $23,625 add $2,000 if age 65 or older

 

New Bonus Standard Deduction (OBBB):
An additional $6,000 deduction for taxpayers 65 and older.
This is per eligible individual, meaning a married couple both over 65 could get $12,000.
Important: This bonus deduction is temporary, lasting from 2025 through 2028.
Income limitations: It phases out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers.


The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b

Look at your Form 1040 -

You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

OBBB with Standard Deduction

You are just regurgitating what has been posted previously. I don't see ANY reduction in taxes with this OBBB applied. I have not finalized my return so have not viewed completed tax forms but a $12000 deduction would mean I would be getting a LOT more money back than TurboTax is showing (under running expected return amount). Why can't I see this OBB anywhere on your online forms? 

OBBB with Standard Deduction

@user17697833490 The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b

When you looked at your Form 1040 Line 13b, what amount was entered?

OBBB with Standard Deduction

I also cannot find View Tax Summary for a form in progress. Is not one of the drop down items listed. 

OBBB with Standard Deduction

@user17697833490 After you click on Tax Tools and then on Tools, a Tools Center window will be displayed.  On that window, the first option under Other helpful links... is View Tax Summary.

Tools Center View Tax Summary.JPG

 

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