In This Article:
Standard Deduction For Seniors
Taxable Amount of Social Security Benefits
Credit For The Elderly
Standard Deduction for Seniors
If you do not itemize your deductions, you can get a higher standard deduction amount if you and/or your spouse are 65 years old or older. You can get an even higher standard deduction amount if either you or your spouse is blind. (See Form 1040 and Form 1040A instructions.)
Taxable Amount of Social Security Benefits
When preparing your tax return, be especially careful when you calculate the taxable amount of your Social Security. Use the Social Security benefits worksheet found in the instructions for IRS Form 1040 and Form 1040A, and then double-check it before you fill out your tax return. See Publication 915, Social Security and Equivalent Railroad Retirement Benefits.
Credit for the Elderly or Disabled
You must file your taxes using Form 1040 or Form 1040A to receive the Credit for the Elderly or Disabled. You cannot get the Credit for the Elderly or Disabled if you file using Form 1040EZ. Be sure to apply for the Credit if you qualify.
Who Can Take the Credit?
The Credit is based on your age, filing status and income. You may be able to take the Credit if you meet all these requirements:
1. You and/or your spouse are either 65 years or older; or under age 65 years old and are permanently and totally disabled.
2. Filing Status: Your income on Form 1040 line 28 is less than $17,500 (filing single), $20,000 (married filing jointly and only one spouse qualifies), $25,000 (married filing jointly and both qualify), or $12,500 (married filing separately and lived apart from your spouse for the entire year).
And, the non-taxable part of your Social Security or other nontaxable pensions, annuities or disability income is less than $5,000 (filing single), $5,000 (married filing jointly and only one spouse qualifies), $7,500 (married filing jointly and both qualify), or $3,750 (married filing separately and lived apart from your spouse the entire year).
How Do You Calculate the Credit?
If you would like IRS to figure the amount of your Credit, then do the following:
If you use Form 1040:
If you use Form 1040A:
For more information, visit Seniors & Retirees section on the IRS website or call IRS Toll-Free at1-800-829-1040 from 7am to 10pm on weekdays.
If you would like to take advantage of the Free IRS Tax Return Preparation, click here. There are IRS-sponsored volunteer tax assistance programs that offer free tax help to seniors and to low- to moderate-income people who cannot prepare their own tax returns.
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Catharine “Kate” is a Certified Administrator for Residential Care Facilities for the Elderly (RCFE) and an Expert Senior Care Advisor. Kate’s grandmother battled Alzheimer’s Disease and Kate personally understands what millions of families are going through. Kate and her team are very passionate in empowering Seniors and their families by providing them with the Best Available Senior Care Options based on Senior’s care needs, preferred location and family’s budget.
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