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when will turbotax onnline be updated with the new senior deduction

 
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4 Replies

when will turbotax onnline be updated with the new senior deduction

it should already be there. It's automatically calculated - Schedule 1A line 37 

when will turbotax onnline be updated with the new senior 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.

when will turbotax onnline be updated with the new senior deduction

@dwustefeld 

 

It already is

BUT

You'll find that it is on an entirely different line on the 1040 tax form.

 

It's on line 13b  (might be even greater for some other things that might add in)

while the Std De for your filing status is on line 12e

 

So don't expect the Std Ded itself to be increase by 6000 (12000 for MFJ) as it's accounted for on a separate line on the tax form.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

when will turbotax onnline be updated with the new senior deduction

Hello. Yes I found the information in the federal summary. Thanks everyone.

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