Do you qualify for the 2025 senior tax deduction? What to know now.

Core Points - The 2025 federal income tax returns introduce a new temporary "senior bonus" allowing taxpayers aged 65 and older to deduct up to $6,000 from their income [1][6] - This deduction can lead to significant tax savings, with a potential $720 savings for single taxpayers at a 12% marginal tax rate [2] - The new deduction is in addition to the existing extra standard deduction for seniors, which is $2,000 for single taxpayers and $1,600 for qualifying spouses [3] Eligibility and Limitations - To qualify for the new senior deduction, taxpayers must file a new Schedule 1-A and meet specific income limits [6] - The deduction begins to phase out for modified adjusted gross incomes of $75,000 for singles and $150,000 for joint filers, fully phasing out at $175,000 and $250,000 respectively [6][7] - The phase-out occurs at a rate of 6% for every $1,000 over the income limit [7] Additional Support - The AARP Foundation provides free tax filing services to low-income seniors during tax season, helping them navigate these new tax benefits [4][5]