65 or Older? These 5 Tax Breaks Could Lower Your Taxes This Year

From standard deductions to lesser-known credits, these five strategies can help older adult retirees save more on federal taxes. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.You are now subscribedYour newsletter sign-up was successfulWant to add more newsletters?Delivered dailyKiplinger TodayProfit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. 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Subscribe from just $107.88 $24.99, plus get up to 4 Special IssuesProfit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.Profit and prosper with the best of expert advice - straight to your e-mail.Taxpayers age 65 and older are eligible for an extra standard deduction on their federal return on top of the regular standard deduction amounts.For 2025 federal returns (being filed now in this 2026 tax season), these deductions include:DeductionSingleMarried Filing JointlyNotesStandard Deduction$15,750$31,500Base standard deduction for 2025Extra Standard Deduction (65+)$2,000$1,600 per spouseAn additional amount added to the standard deduction if age 65 or older. Higher amounts for eligible blind taxpayers.Senior Bonus Deduction (2025–2028)Up to $6,000Up to $12,000Phase-outs start at MAGI $75,000 (single) / $150,000 (joint); can be claimed even if itemizing; requires SSNThe senior bonus deduction is different than the extra standard deduction for older adults. It is temporary and requires a valid Social Security number (SSN), but it can be claimed even if you itemize deductions, subject to income phase-outs.Keep in mind: Claiming both the extra standard deduction and the senior bonus deduction can reduce your taxable income.Learn More: How the $6,000 Senior Bonus Deduction WorksAs retirees transition into retirement, they often face rising medical expenses.To help manage these costs, the IRS offers a tax benefit for those who itemize deductions, allowing them to subtract eligible medical expenses that exceed 7.5% of their adjusted gross income (AGI).Eligible expenses include:Keep in mind: Tracking all eligible medical costs throughout the year can help ensure you claim all available deductions and potentially lower your tax burden.Learn More: What Medical Expenses Are Tax Deductible?At 70½ and older, you can donate up to $108,000 per year (for the 2025 tax year, $111,000 for the 2026 tax year) from a traditional IRA directly to a qualified charity through a Qualified Charitable Distribution (QCD). (The QCD limit is indexed for inflation.)Benefits:Keep in mind: QCDs must go directly from your IRA to the charity to qualify. Using QCDs can satisfy your RMD while keeping funds out of taxable income, which might also help reduce Medicare premiums (IRMAA surcharges) and taxes on your Social Security benefits.Learn More: How Qualified Charitable Distributions WorkSocial Security benefits may be taxable depending on your total income, which the IRS measures using provisional income. Depending on your provisional income, up to 85% of your Social Security benefits may be taxable."Provisional income" is calculated as: Adjusted Gross Income (AGI) + tax-exempt interest + ½ of your Social Security benefitsWhere AGI includes:Filing StatusLower ThresholdUpper ThresholdNotesSingle$25,000$34,000Determines the taxable portion of Social Security benefitsMarried Filing Jointly$32,000$44,000Thresholds for combined provisional incomeKeep in mind: Spreading taxable withdrawals from retirement accounts across multiple years or using Roth IRA withdrawals strategically can help minimize how much of your Social Security benefits are taxed, preserving more of your retirement income. Filing separately can trigger higher taxable amounts, so consider your filing status carefully.Learn more: 6 Things to Know About Taxes on Social SecurityConverting part of a traditional IRA to a Roth IRA in lower-income years can provide long-term tax benefits:Keep in mind: Partial Roth conversions in years when income is lower can spread taxable income over time and potentially reduce future tax liabilities. Roth conversions can temporarily increase provisional income and affect taxes on Social Security in the conversion year.Learn more: Reasons to Convert Your IRA to a RothMany states offer retirement-specific tax relief, like:Keep in mind: State-level tax relief is often overlooked by some taxpayers but can help save more than federal deductions alone. It's important to check eligibility or consult a local tax professional to claim all the tax benefits you're entitlted to.Learn more: Retirement Taxes: How All 50 States Tax RetireesBeing 65 or older opens the door to a variety of deductions, credits, and planning strategies that can reduce your taxes — but every retiree’s situation is different.How much you can save depends on factors like your retirement income, Social Security benefits, state tax rules, and whether you itemize deductions.Keep in mind: These tips can put more money back in your pocket, but other considerations, like Medicare premiums, investment income, and state-level tax breaks, can affect your overall tax picture.In any case, strategic planning can help you maximize available tax savings opportunities while avoiding surprises. Consult a tax professional to tailor strategies to your circumstances.Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.Kelley R. Taylor is the senior tax editor at Kiplinger.com, where she breaks down federal and state tax rules and news to help readers navigate their finances with confidence. A corporate attorney and business journalist with more than 20 years of experience, Kelley has helped taxpayers make sense of shifting U.S. tax law and policy from the Affordable Care Act (ACA) and the Tax Cuts and Jobs Act (TCJA), to SECURE 2.0, the Inflation Reduction Act, and most recently, the 2025 “Big, Beautiful Bill.” She has covered issues ranging from partnerships, carried interest, compensation and benefits, and tax‑exempt organizations to RMDs, capital gains taxes, and energy tax credits. Her award‑winning work has been featured in numerous national and specialty publications.