Tax season can be frustrating, especially for retirees who assume their opportunities to reduce their tax bill are limited. The reality is that many older Americans leave money on the table each year simply because they aren’t aware of deductions and tax breaks specifically available to them. Even a few overlooked deductions can add up to hundreds or thousands of dollars in savings, which can make a meaningful difference on a fixed income. While every taxpayer’s situation is unique, there are several tax deductions that seniors routinely miss when preparing their returns. Here’s a look at nine of them that are frequently overlooked.
