Eligible taxpayers age 65 or older may qualify for a new deduction of up to $6,000 per person. Income limits apply, and married taxpayers generally must file jointly to claim it.

The benefit can apply whether you itemize or take the standard deduction. It is separate from determining how much of your Social Security income is taxable.

Your next steps

• Confirm your age at year-end.
• Gather all retirement and other income statements.
• Compare eligibility with your filing status and income.

General education, not individualized tax or legal advice. Illustrations use stated assumptions and do not promise a refund or tax saving.