Q:

What is the IRS deduction for people over 65?

A:

Quick Answer

The IRS deduction for people over 65 is the Standard Deduction for Seniors. This deduction applies to seniors aged 65 and older who do not itemize their tax deductions. Seniors who turn 65 at any time during the taxable year qualify for the deduction.

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Full Answer

Seniors may qualify for the Credit for the Elderly or Disabled. The credit is based on age, filing status and income. As of 2015, they must be 65 or older or permanently and totally disabled. They must make less than $17,500 if they are filing single, less than $20,000 if they are married filing jointly, and under $25,000 if they are married filing jointly and both qualify.

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