Tax Resources
 

Elderly Tax Credit

There is an elderly tax credit which anyone at least 65 years old who is qualified can claim on his or her tax return. The elderly tax credit is often referred to as credit for the elderly or the disabled. Below is information on what it takes to qualify to claim the elderly tax credit from the IRS. If you are qualified for the elderly tax credit, you can claim it on the IRS tax form 1040 under 'credit for the elderly or the disabled'. There are IRS tax credit help for the elderly

Who is qualified to claim the elderly tax credit?

A taxpayer can take or claim the elderly tax credit if he or she has been a US citizen or resident for the entire tax year. If the taxpayer is married, he or she generally would file as a married filing jointly. However, if the taxpayer and his or her spouse did not live together in the same household at any time during the tax year, then he or she can file a joint return or a separate return and still take the elderly tax credit.

What is the age test for elderly tax credit?

A taxpayer can claim the elderly tax credit from the IRS is:

  • he or she was 65 or older at the end of the previous tax year. For example, for an elderly to claim the elderly tax credit for the year 2007, he or she needed to have been at least 65 at the end of 2006.
Can a head of household claim the elderly tax credit?

Yes if a taxpayer files his or her income tax return as a head of household, he or she can still claim the elderly tax credit.

What is the income restriction for claiming the elderly tax credit?

To claim the elderly tax credit from the IRS, the taxpayer must pass the AGI test as well as the amount of nontaxable social security and other nontaxable pensions test. The income limits for claiming the elderly tax credits below is for the tax year 2007.

 

 
You cannot take the tax credit if
You cannot take the tax credit if
IF your tax filing status is.. 
your AGI is equal to or more than
the total of your nontaxable social security and other nontaxable pensions(s) is equal to or more than
Single, head of household or qualifying widow(er) $17,500 $5,000
Married filing jointly & both spouses qualify $25,000 $7,500
Married filing jointly & only one spouse qualifies $20,000 $5,000
Married filing separately and did not live with spouse at any time during the year $12,500 $3,750

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