Seniors See Relief: New Deduction Starts in 2025!

Now that the One, Big, Beautiful Bill Act is law, certain older taxpayers can enjoy a new tax break. For 2025 through 2028, those age 65 and up can claim a senior deduction of up to $6,000. For married couples filing jointly, if both spouses are at least 65, they can deduct $12,000. The deduction is available whether or not you itemize, but it’s subject to income-based phaseouts. For unmarried taxpayers, the deduction begins to phase out when modified adjusted gross income (MAGI) reaches $75,000 and is eliminated at MAGI of $175,000. For married joint filers, the phaseout range is $150,000 to $250,000. Note: Despite some claims, “no tax on Social Security benefits” isn’t part of the new law.