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New Tax Deduction Offers Seniors Up to $12,000

4/1/2026

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Story summary
  • A temporary senior tax deduction for 2025 allows taxpayers aged 65 or older to claim an extra $6,000, or $12,000 for married couples filing jointly, in addition to the standard deduction.
  • The deduction lasts through 2028 and is in addition to the standard deduction.
  • Eligibility depends on MAGI, with singles earning more than $75,000 potentially receiving reduced benefits.
  • Married individuals filing separately are excluded.
  • Seniors must file using Form 1040-SR by April 15, 2026.