AI Overview
There's good news for seniors regarding the standard deduction in 2025 (taxes filed in 2026). In addition to the regular standard deduction, two additions may apply:
- Existing additional standard deduction: This applies to those 65 and older or those who are blind. For 2025, the amounts are:
- Single or Head of Household: an additional $2,000
- Married Filing Jointly or Separately: an additional $1,600 per qualifying individual
- New temporary additional standard deduction: A new law, sometimes referred to as the "One Big, Beautiful Bill Act," provides an additional $6,000 deduction per person for those 65 and older, effective for 2025-2028.
- This new deduction is in addition to the existing additional standard deduction for seniors.
- It is available to both itemizers and non-itemizers.
- It is subject to phase-out limitations based on income. For example, the deduction phases out for single taxpayers earning more than $75,000 and for married taxpayers earning more than $150,000.
Therefore, a single senior (age 65 or older) could be eligible for a total standard deduction of $23,750 for 2025 (calculated as a base of $15,750 + $2,000 for age + $6,000 new deduction), assuming they meet the income requirements for the new deduction.
Important Notes:
- These additional deductions are generally not available to taxpayers who itemize their deductions.
- The $6,000 additional deduction is scheduled to expire in 2028.
- It's important to consult with a tax professional or refer to official IRS publications for the most up-to-date and personalized tax advice.
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