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2. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older OR blind are: $1,850 for single or head of household. $1,500 for married taxpayers (per qualifying ...

3. Retirees Often Overlook These 11 Tax Deductions - AOL

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   However, some seniors may not be aware that this deduction is increased for those age 65 or older. For tax year 2023, the addition to the standard deduction for individuals 65 and older is $1,850 ...

4. Tax breaks after 50 you might not know about - AOL

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   Here are additional 2024 standard deductions for those over 65 showing the IRS’s tax inflation adjustments: Joint filers and surviving spouses can deduct an additional $1,550 per person over 65.

5. Trump-Era Tax Cuts Are Expiring: How Changes Will Impact Retirees

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   For seniors currently benefiting from this deduction, the limit swells to $12.92 million in 2023. In 2026, the estate tax deduction will either return to the 2017 amount or be amended ...

6. How all 50 states tax retirement income: A ... - AOL

   www.aol.com/finance/states-that-tax-retirement...

   Both retirement and Social Security income are taxable in the state, and most of the state's retirement deductions were repealed for tax year 2024. Residents ages 65 and older can subtract $5,500 ...

7. States that tax Social Security benefits — including changes ...

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   The good news is that Montana residents over age 65 can take a new standard $5,500 deduction from their federal taxable income for the 2024 tax year. New Mexico

8. Does your state tax Social Security benefits? - AOL

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   On the federal level, you'll be taxed on up to 50% of benefits once provisional income exceeds $25,000 for single tax filers and $32,000 for married joint filers — and on up to 85% of benefits ...

9. Here Are All the States That Don’t Tax Social Security Benefits

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   However, thanks to recent legislation, the state will phase out the state income tax on benefits by 2025 gradually. It began with a reduction of 5% for 2022, 20% in 2022, 30% in 2023, 40% in 2024 ...