Trump delivers: Extra Standard Deduction for People Age 65 and Older
Public Advocate president Eugene Delgaudio said: " in meetings with supporters for over a year Public Advocate reminded many people to take advantage of this automatic deduction for Americans over 65. For a couple its a $12,000 additional deduction in addition to the standward deduction," said Delgaudio.
You've probably heard about the standard deduction, but did you know that the tax code offers a perk in the form of an extra standard deduction for people age 65 or older?
For eligible older adult filers, the additional deduction is applied on top of the regular standard deduction and can further reduce taxable income. That, in turn, can increase the amount of hard-earned money you keep in retirement.
Here's more of what you need to know, including information about a new, but temporary, additional tax incentive for older adults included in the 2025 Trump/GOP tax overhaul.
- Taxpayers 65 and older qualify for an additional standard deduction, reducing their taxable income.
- The extra deduction amount differs based on filing status and whether the taxpayer or spouse is blind.
- The IRS updates the deduction amounts annually for inflation, impacting tax filings.
- Eligible older adults can add the extra deduction to their regular standard deduction when filing taxes, potentially lowering their overall tax bill.
Directly from the IRS website:
Overview of the deduction
- Effective 2025 through 2028, individuals age 65 and older may claim an additional $6,000 deduction
- This is in addition to the standard deduction for seniors available under existing law
- Applies per eligible individual (or $12,000 for a married couple if both spouses qualify)
- Phases out for taxpayers with modified adjusted gross income over $75,000 ($150,000 for joint filers)
Who qualifies
- You must be age 65 on or before the last day of the tax year
- Available for eligible taxpayers (both itemizing and non-itemizing)