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IRS Free File is available on IRS.gov, and features brand-name tax software providers. Free File offers the Form 1040-SR option for seniors over the age of 65.
What is 1040-SR standard deduction?
2021 Form 1040-SR Tax Return For Seniors Standard Deductions The form does allow seniors to denote their various forms of income, including wages, qualified dividends, IRA distributions, pensions, and social security benefits.
What is the difference between filing a 1040 and a 1040-SR?
Since these forms are virtually identical in function, the main reason to use Form 1040-SR is if youre filling out your tax return by hand rather than online. Form 1040-SR has larger type and larger boxes to write numbers in, making it slightly easier for seniors to read and fill out.
What is the standard deduction for senior citizens in 2022?
If youre at least 65 years old or blind, you can claim an additional 2022 standard deduction of $1,400 ($1,750 if using the single or head of household filing status).
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