Standard Deduction at age 65…
How much can be added to the federal (joint return) standard deduction for 2009 if one spouse turned 65 this year and the other will not turn 65 this year? Is it 1/2 of the additional $1,100 (over 65 or blind)? In other words, for a 65 and 64 year old married couple, is the standard deduction $11,400 plus $550 (1/2 of the $1,100)? I’m assuming no real estate taxes are paid this year (not eligible for the add’l $1,000).
Permalink Submitted by Alan Spross on Thu, 2009-07-30 23:25
$1,100. is added for the spouse reaching 65. That would bring the total to $12,500. excluding any additional amount for property taxes.
Permalink Submitted by tomd37 on Fri, 2009-07-31 01:20
And to add another twist, if the underage spouse happened to be born on January 1st that spouse would be considered to be 65 on December 31st (I believe).
Permalink Submitted by Alan Spross on Fri, 2009-07-31 02:35
Right you are. Rules apply to your attained age as of January 1st of the current year.