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Index/Topics/Standard Deduction

Standard Deduction

A fixed amount that can be deducted from taxable income, without needing to itemize deductions.

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Jan 30, 2026
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How does the $6,000 senior deduction interact with itemized deductions and the existing extra standard deduction for age 65+?

The new is an additional above-the-line deduction for taxpayers age 65 and older that can be claimed whether a filer takes the or s, and it stacks on top of the traditional age-based extra standard de...