Q:
Are There Additional Tax Deductions Available If You Are Over 65?
A:
Quick Answer
As of 2013, taxpayers who are 65 years of age or older by Dec. 31 of the tax year are entitled to higher standard deductions, explains Nolo. Taxpayers can claim a higher deduction if their spouse is older than 65, and they file joint returns.
Continue ReadingFull Answer
For the 2014 tax year, taxpayers age 65 or older may add another $1,500 to their standard deduction if filing single or head-of-household, says Efile.com. Taxpayers who are married filing jointly with a spouse 65 or older can add another $1,200. If both taxpayers are age 65 or older, they can add another $2,400 to their deduction.
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