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June 4, 2019
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General question, fed and state taxes. Is there a tax benefit for retired Baby Boomers according to age? Or are we such a large

  • June 4, 2019
  • 2 replies
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...such a large population that the government wants our dollars?
Best answer by fanfare

you get a bump in your standard deduction.

Boomers are no longer the biggest cohort. Get used to it.

2 replies

fanfare
fanfareAnswer
Employee
June 4, 2019

you get a bump in your standard deduction.

Boomers are no longer the biggest cohort. Get used to it.

Employee
June 4, 2019


2018 Standard Deductions:

Single   $12,000  (+ $1600 65 or older)

Married Filing Separately    $12,000  (+ $1300 65 or older)

Married Filing Jointly  $24,000  (+ $1300 each spouse 65 or older)

Head of Household  $18,000  (+ $1600 65 or older)

Look at line 8 of your Form 1040 to see your standard or itemized deductions.


**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**