To: Jamestown1630
I am well north of 65 and never heard of an age exemption except for state (in this case, Texas) property taxes
4 posted on
01/21/2019 5:47:31 PM PST by
yetidog
To: yetidog
7 posted on
01/21/2019 5:49:57 PM PST by
RetiredTexasVet
(Start using cash and checks or the elite class and bankers will make "cashless" the norm.)
To: yetidog
I probably used the wrong term - this is apparently an additional standard deduction. We do get an over-65 break on our state taxes, but that's clear on the state form.
I'm confused now; this is what the IRS site states, regarding taking the standard deduction instead of itemizing:
Your standard deduction consists of the sum of the basic standard deduction and any additional standard deductions for age and/or blindness. In general, the standard deduction is adjusted each year for inflation and varies according to your filing status, whether you're 65 or older and/or blind....
Additional Standard Deduction - You're allowed an additional deduction if you're age 65 or older at the end of the tax year.
16 posted on
01/21/2019 6:01:50 PM PST by
Jamestown1630
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