2025 New Senior Tax Deduction

Lenn
Lenn Member ✭✭
edited August 24 in Budgeting and Planning Tools (Windows)

For 2025 seniors will get an additional $6,000 per eligible individual ($12,000 for married couple) deduction over and above the standard deduction; however, Quicken has not factored this new provision into Tax Planner and there is no facility to make an adjustment for it in Tax Planner. Will they correct this feature soon?

Comments

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    While you are waiting for Quicken to implement this, you should be able to enter the amount of the deduction you qualify for (there are income limits) on the Other Adjustments line in the Adjustments to Income section of the Tax Planner.

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  • Lenn
    Lenn Member ✭✭

    Jim, that was helpful. I was not aware of those adjustments. THANKS!

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