Enhanced Senior Deduction
Who Is Eligible
- A taxpayer (or spouse if MFJ) who has attained the age of 65 by the end of the tax year.
- The senior must have a Social Security number that is valid for employment by the due date of the return (including extensions).
- Not filing MFS.
Automatically Calculated by TaxSlayer
Limitations
- The maximum deduction is $6,000 per eligible individual (taxpayer or spouse, if MFJ).
- The deduction phases out starting with modified adjusted gross income (MAGI) over $75,000 ($150,000 if MFJ).
- The phase out is at a rate of 6% of the MAGI over the threshold.
- MAGI for this purpose is adjusted gross income plus certain excluded foreign income.
- On an MFJ return where both spouses qualify, the MAGI reduction is first applied with respect to the taxpayer. The spouse’s deduction is the same amount as the deduction allowed to the taxpayer.
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