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March 19, 2025
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How do I get Elderly Tax Credit for a couple on Indiana IT-40?

  • March 19, 2025
  • 1 reply
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TurboTax Free online version defaulted to Elderly Tax Credit for a single person, but we should get it for a couple. For single, it's a $90 credit, for a couple, it's $140. I can't find a way to select couple to get the higher credit.
Best answer by KeshaH

The Unified Credit for the Elderly is up to $140 for married taxpayers when both spouses are 65 or older. However the actual amount the couple qualifies for depends on income level. They would only qualify for the full $140 if their federal adjusted gross income is under $1,000.

 

If their income is at least $1,000 but less than $3,000, they would qualify for a $90 credit.

 

There is no $90 credit for single taxpayers or married taxpayers with only one spouse being 65 or older, so it seems the couple's income is between $1,000 and $3,000 and TurboTax is correctly calculating the credit.

 

1 reply

KeshaHAnswer
March 20, 2025

The Unified Credit for the Elderly is up to $140 for married taxpayers when both spouses are 65 or older. However the actual amount the couple qualifies for depends on income level. They would only qualify for the full $140 if their federal adjusted gross income is under $1,000.

 

If their income is at least $1,000 but less than $3,000, they would qualify for a $90 credit.

 

There is no $90 credit for single taxpayers or married taxpayers with only one spouse being 65 or older, so it seems the couple's income is between $1,000 and $3,000 and TurboTax is correctly calculating the credit.

 

tony138Author
March 20, 2025

Thank you! This is the answer. TurboTax does not mention the income limits, so I thought they should get the full $140. Thanks for responding so quickly!!

March 20, 2025

You're welcome!