What is the extra standard deduction for seniors over 65? An expert guide
For the tax years 2025 through 2028, qualifying individuals aged 65 and older may be eligible to claim a new $6,000 deduction, significantly enhancing the standard deduction they can take. This powerful tax provision expands on existing benefits to provide greater relief for seniors living on fixed or modest incomes. Understanding exactly what is the extra standard deduction for seniors over 65 is crucial for maximizing your financial well-being in retirement.