Standard deduction for seniors
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davetsmate
New Member

Standard deduction for seniors

My husband and I are both over 65 and file married, filing jointly. Shouldn't our deduction be $27,400? On our form it shows $24,800.

2 Replies
RayW7
Employee Tax Expert

Standard deduction for seniors

The standard deduction for Married Filing Joint with both over 65 should be:

 

$24,800

 

In addition if both of you are over 65 (see below) then you would qualify for an additional  $1,300 each or $2,600 total.   

 

You must turn 65 by the last day of the tax year to qualify for this additional deduction, but the IRS says you actually turn 65 on the day before your birthday. That means you would qualify on December 31 if you were born on January 1—just in the nick of time to claim the extra deduction for that tax year.

 

 

SweetieJean
Level 15

Standard deduction for seniors

$27,400 will be the Standard deduction on the 2021 tax return that you file in early 2022.

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