Because it’s tax time, our clients have been asking questions about how taxpayers ages 65 and older can make the most of the temporary $6,000 senior tax deduction that is in effect for tax years 2025 through 2028.
This is an unusual situation, because a deduction is available to both those who itemize and those who take the standard deduction. The real crux will revolve around whether you are an eligible senior. There are income restrictions. The deduction also starts to phase out at a certain modified adjusted gross income and disappears altogether at another income level. Be sure to consult with a qualified Tax Preparer in regard to topics like these.
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