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posted Jan 28, 2026 5:12:59 AM

New $6000 deduction

Well, if turbotax won't add in the $6000 along with the standard deduction, why should I use turbotax. That $6000 will probably keep me from paying any taxes this year

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1 Replies
Level 15
Jan 28, 2026 5:16:33 AM

The additional deduction is not added to your Standard Deduction.  It is automatically added to your federal tax return by the TurboTax software using IRS Schedule 1-A.

 

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.