IRS Publication 554 — Tax Guide for Seniors

> Official source: https://www.irs.gov/pub/irs-pdf/p554.pdf — cite as: IRS Pub. 554, [section/page]. Check irs.gov for the current revision before relying on figures.

Publication 554 Tax Guide for Seniors For use in preparing 2025 Returns Get forms and other information faster and easier at:

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What’s New Enhanced deduction for seniors. Beginning in 2025, taxpayers who are age 65 or older may be eligible for the enhanced deduction for seniors. The maximum amount of the deduction is $6,000 per person ($12,000 if married filing jointly and both spouses are eligible). For more information, see Enhanced Deduction for Seniors, later. Standard deduction amount increased. For 2025, the standard deduction amount has been increased for all filers. The amounts are:

• Single or Married filing separately—$15,750;

• Married filing jointly or Qualifying surviving spouse—$31,500; and

• Head of household—$23,625.

Alternative minimum tax (AMT) exemption increased. The AMT exemption amount has increased to $88,100 ($137,000 if married filing jointly or qualifying surviving spouse; $68,500 if married filing separately). Earned income credit. The maximum amount of income you can earn and still get the credit has changed. You may be able to take the credit if you earn less than:

• $19,104 ($26,214 if married filing jointly), don’t have a qualifying child, and are at least 25 years old and under age 65;

• $50,434 ($57,554 if married filing jointly), and you have one qualifying child;

• $57,310 ($64,430 if married filing jointly), and you have two qualifying children; or

• $61,555 ($68,675 if married filing jointly), and you have three or more qualifying children.

For more information, see Earned Income Credit, later. Standard mileage rate. For 2025, the standard mileage rate allowed for operating expenses for a car when you use it for medical reasons is 21 cents a mile. Reminders Increase in required minimum distribution age. If you reach age 72 in 2023 or later and have funds in a traditional IRA or a traditional SIMPLE IRA, the required beginning date for your first required minimum distribution is April 1 of the year following the year in which you reach age 73.

Maximum age for traditional IRA contributions. The age restriction for contributions to a traditional IRA has been eliminated.

Publication 554 (2025) Catalog Number 15102R Jan 16, 2026 Department of the Treasury Internal Revenue Service www.irs.gov