What are the tax benefits in filing a 1040 vs.1040-SR?

NO.  The 1040SR is EXACTLY the same as the regular 1040 just bigger type so it prints on 3 pages instead of 2.  And the Standard Deduction is on page 4.  They both use the same instructions and tax calculations.

Form 1040:

https://www.irs.gov/pub/irs-pdf/f1040.pdf

Form 1040SR

https://www.irs.gov/pub/irs-pdf/f1040s.pdf

When you print it will print on the 1040SR even if you see only the 1040 on the screen.  You automatically get the 1040SR if you or your spouse is 65 or older.  In the Desktop program you can tell it which one to print.  

If you use the Desktop program you can switch to forms and the Info Wks part II has a selection to select 1040SR or not.  You can not change it in the Online versions.   In the Online version if you want to use the regular 1040 form, you can print out the 1040SR and copy the amounts onto a blank 1040 and then mail your return.

There aren't any tax benefits if you complete Form 1040-SR instead of Form 1040.  The print is larger on Form 1040-SR, so it prints out on three pages.

Form 1040-SR will automatically print for taxpayers 65 or older when using TurboTax Online.  If you are using TurboTax Desktop, it'll give you the option to print the 1040-SR. It contains the same information that the 1040 contains, but the print is larger.

Refer to the TurboTax articles Everything to Know About the 1040-SR Form for Filing Seniors for more information.  If you would like to see a copy of the form, here's the link Form 1040-SR.

@elripley3