$1300 to $2600 Additional Standard Deduction for Seniors Over 65 under GOP/Trump Tax Reform

As part of the GOP tax reform bill to support President Trump’s tax reform agenda there has a near doubling of the standard deductions that can be taken in 2018 and beyond. The offsets the elimination of the $4,050 personal exemption in 2018 (until 2025, unless extended by Congress then). The standard deduction from 2018 will be $12,000 for singles and $24,000 for married couples. However the additional $1,300 to $2,600 deduction currently available to individuals over 65 or blind will still be available and was not repealed in the new tax laws.

For married couples where both spouses are above 65, the additional deduction doubles to $2,600 as both are eligible for this additional deduction. For singles the deduction is $1,600. This additional deduction can be claimed from 2018 on on top of the larger standard deduction that will be available to most tax payers under the GOP tax reform.

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5 thoughts on “$1300 to $2600 Additional Standard Deduction for Seniors Over 65 under GOP/Trump Tax Reform”

  1. I had $11,000 in itemized deductions last year + the $4,050 personal exemption. That reduced my retirement income by $15,050. I won’t make out as well with the new tax law with the standard $13,300 deduction unless you can claim certain expenses (like donations, property taxes or medical insurance) over and above the deduction. It could make more of my SS taxable.

  2. From what I’ve read, the $13,600 deduction for singles over 65 does appear to be right. But with the elimination of the personal exemption, that is not as generous as it might originally appear. For 2017 the standard deduction for single, 65+ (or blind) person was $7,900, plus personal exemption of $4,050, for a total of $11,950…a whopping $1,650 increased deduction.

  3. I hope your source for standard deductions is authentic. That standard deduction of $13,600 for singles over 65 looks too good to be true. I’m hopeful though, because AARP presents the same information. Still, the IRS website does not yet show a 2018 standard deduction over $12,000 for singles over 65. Nor has the IRS issued Estimated Tax Instructions for 2018., which would, for me, be the Final Word. The clock is ticking, dear IRS!

      • It appears the social security calculation is unchanged but if you are one of the 30% of recipients being taxed it is time to start asking your elected officials to amend the law and index the the taxable amount. If congress had indexed it in 1983 when the law was passed to tax to penalize the 10% of “high income” people, the threshold amount would be over $70,000 today.


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