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rmohl195
New Member

Where does TurboTax Calculate the 1040r Senior discount on a 1040SR form.???

We see No area on a 1040SR Form for Senior Calculation over 65...

The IRS addresses this on Form 1040r is the only place we have found this.

Thank you in advance for your assistance..

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2 Replies

Where does TurboTax Calculate the 1040r Senior discount on a 1040SR form.???

There is not a senior discount on a federal tax return.  There is an increase in the Standard Deduction for those age 65 and older.

 

Standard deductions for 2024

Single - $14,600 add $1,850 if age 65 or older
Married Filing Separately - $14,600 add $1,550 if age 65 or older
Married Filing Jointly - $29,200 add $1,550 for each spouse age 65 or older
Head of Household - $21,900 add $1,950 if age 65 or older

 

Also, the Form 1040 and the Form 1040-SR are Exactly the same form.  The only difference is the Form 1040-SR has a larger type.

Where does TurboTax Calculate the 1040r Senior discount on a 1040SR form.???

The 1040SR is EXACTLY the same as the regular 1040 just larger type so it goes on 3 pages with the Standard Deduction chart on page 4. But it has the same line numbers. You automatically get the 1040SR if you or your spouse is 65 or older. It doesn't matter which one you file.


In the Online version it will show the regular 1040 on the screen but if you print it out or save the pdf it will be the 1040-SR.


Before filing you can preview the 1040 or print the whole return
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...

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