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By hairstyler On Nov 8, 2025

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Freepik Photos, Download The BEST Free Freepik Stock Photos & HD Images What is the bonus deduction for older adults in the trump tax bill? a new bonus deduction kicks in beginning with the 2025 tax year due to recently enacted gop tax legislation, which trump calls. Beginning in 2025, taxpayers aged 65 or older will be eligible for a new $6,000 federal tax deduction. this deduction is designed to reduce taxable income and is stacked on top of the standard deduction and the existing senior (age based) additional deduction.

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Freepik Photos, Download The BEST Free Freepik Stock Photos & HD Images While it promises a $6,000 deduction, understanding who qualifies and who doesn't is crucial for retirees planning their finances. The one big beautiful bill act (obbba) created a new tax deduction for seniors 65 starting with the 2025 tax year, offering up to $6,000 for single filers and $12,000 for married couples. effective from 2025 through 2028, the temporary deduction presents a strategic window for tax planning, allowing practitioners to advise clients on income producing moves like roth conversions. for tax. Adults 65 and older may qualify for a new $6,000 deduction, in addition to existing standard deductions. the deduction phases out for incomes above $75,000 (single filers) or $150,000 (joint filers). it applies regardless of whether you itemize or take the standard deduction. New deduction: effective for 2025 through 2028, individuals who are age 65 and older may claim an additional deduction of $6,000. this new deduction is in addition to the current additional standard deduction for seniors under existing law.

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Freepik Photos, Download The BEST Free Freepik Stock Photos & HD Images Adults 65 and older may qualify for a new $6,000 deduction, in addition to existing standard deductions. the deduction phases out for incomes above $75,000 (single filers) or $150,000 (joint filers). it applies regardless of whether you itemize or take the standard deduction. New deduction: effective for 2025 through 2028, individuals who are age 65 and older may claim an additional deduction of $6,000. this new deduction is in addition to the current additional standard deduction for seniors under existing law. Obbb permanently extends the doubled standard deduction from tcja. it also provides an extra $750 to the standard deduction for single taxpayers and $1,500 for married couples in 2025 and adjusts those amounts for inflation yearly beginning in 2026. altogether, these changes are projected to cost $1.4 trillion from 2025 2034. Learn what is the senior deduction for 2025, including the new $6,000 bonus. explore who qualifies, income limits, and how it impacts your tax filing. Congress created a new $6,000 deduction for taxpayers age 65 , effective for tax years 2025–2028. the irs confirms it’s in addition to the familiar age/blindness add on and available whether you itemize or take the standard deduction. To be eligible, you need to turn 65 on or before dec. 31, 2025, and file as an individual, head of household, surviving spouse or a married couple filing jointly. (the deduction is not available to.