I am using TT 2024 What-if. The Senior bonus for MFJ looks wrong. If I use AGI of $200K, shows a S.B of $5900, but I think 12k should be reduced by (200k-150k)*0.06.

[user17660968036]

Looks like TT is reducing the $12k by double the reduction. I am not sure that is correct. Am I incorrect?

[VolvoGirl · Accepted solution]

I made a spreadsheet.   On a joint return the phaseout is calculated separately for each person, so the 6% phases out for each spouse.

[VolvoGirl · Accepted solution]

@user17660968036   Are you sure it's not giving you $6,000 deduction (not 5,900)??  I opened my 2024 program and did What-If for 200,000 AGI and got 6,000 total for both spouses over 65.

[VolvoGirl]

Oh I was going to post my 200,000 AGI spreadsheet calculation too.  The 2024 What-if is right, $6,000 deduction.

[user17660968036]

Thank you for confirming that. I was finally able to find it on the IRS website. I really appreciate your fast response and correcting me. I guess it makes sense because you can have two spouses where one qualifies by age, but the other one does not. Even though you are using the MFJ income limits, they need to be calculated separately.