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Less Standard Deduction Single  Form

Less Standard Deduction Single Form

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several tax benefits under federal tax laws and state tax laws are exclusive to people aged 65 or more here is a list of six such tax benefits exclusively for people aged 65 or more 1. tax credit for the elderly or the disabled if you are over 65 or retired on permanent disability you may be eligible for a non-refundable tax credit in the range of 3750 to 5 000 depending upon your status of filing the tax return and other factors such as AGI or social security income you can use Schedule R of form 1040 to compute the eligible tax credit you can also use the web calculator on irstaxapp.com the link is given in the description area 2. the higher standard deduction the higher standard deduction is the second Exclusive Tax Benefit to people 65 or older for the tax year 2023 if married and filing jointly the standard deduction for them is 27 700. but if you are a single person age 65 or older you can claim an additional 1850 on their standard deduction if you are married filing jointly an a

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