If you’re 65 or older and have been itemizing your tax deductions, you may wonder if the new “senior bonus deduction” in Trump’s tax bill — available starting in 2025 — could benefit you.
After all, most taxpayers take the standard deduction. So, it makes sense that eligible older adults who do could stack the new bonus deduction on top of the regular standard deduction and the existing extra standard deduction for 65+.
