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Strategies & Market Trends : Young and Older Folk Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: Markbn who wrote (22130)	11/12/2025 11:52:24 AM
From: Steve Mac	4 Recommendations Recommended By dannyc9 Markbn Mili21 Ridgelander Read Replies (2) \| Respond to of 23864

RE: - Senior Standard Deduction Bonus The IRS does not define the MAGI phase out calculation Here's what I found on H&R Block: hrblock.com The deduction includes a phase-out range as shown below. If your Modified Adjusted Gross Income (MAGI) is between the phase out range, the amount of the deduction you can claim will be reduced. The phase-out range is $75,000-$175,000 for those filing as Single. The phase-out range is $150,000-$250,000 for those Married Filing Jointly. Here’s how the phase out works. Once your income crosses the threshold, the deduction is reduced by six cents for every $1 over the threshold amount. For example, If you are a Single filer, and your MAGI is $100,000, your income is $25,000 over the $75,000 threshold. Your deduction would be reduced by $1,500 ($25,000 x $0.06), leaving you with a $4,500 senior deduction instead of the full $6,000.