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Where in the process does the additional $6000 senior tax credit get processed?

The software is only showing a $33,100 deduction for my wife and I. Our income is way below the phaseout threshold
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2 Replies

Where in the process does the additional $6000 senior tax credit get processed?

It is automatic based on your age.   It is not part of your Standard Deduction. The new Senior Deduction is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. Turbo Tax automatically includes it if you qualify.   If you are married you have to file a Joint return.


For Online version you can preview the 1040
https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...

 

See the 1040…

 

SS 6000 1040.jpg

N

DianeW777
Expert Alumni

Where in the process does the additional $6000 senior tax credit get processed?

It depends. First be sure you have the correct birth date for each spouse. Next you can preview your tax return because it's not part of the standard deduction. It is a separate deduction from income and not a credit.

 

From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)

  1. Select Tax Tools
  2. On the drop-down select Tools
  3. On the pop-up menu titled “Tools Center”, select View Tax Summary 
  4. On the left sidebar, select Preview my 1040 
  5. See Line 13-B on your 1040 for the amount. Additional deductions from Schedule 1-A, line 38

For TurboTax Desktop, change to 'Forms' and review the forms.                     

 

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