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April 14, 2025
Question

Elderly credits show zero in TurboTax

  • April 14, 2025
  • 2 replies
  • 0 views

Dear Staff,

I am filling 2024 tax return for my mom using TurboTax. She is over 65 and last year pension income is about $12,000. I am curious why the Turbo Tax shows 0 in terms of the elder credit. 

 

Thank you!

 

    2 replies

    Hal_Al
    April 14, 2025

    There is a credit for the elderly or disabled (you don't have to be both). But because it has not been adjusted for inflation since 1983, very very few people qualify. If you qualify, TurboTax (TT) will automatically calculate it. It goes on Schedule 3, line 6d (2024). It is not a refundable credit. That is, you must have a tax liability to offset to get the credit. Very few people, with that little income have an actual tax to offset. 

     Having any social security income at all works against you. Essentially your potential credit is reduced by any tax you "shoulda paid” on the untaxed Social security income. If you have more than $5000 social security ($7500 Married Filing Jointly and both are elderly or disabled) or VA benefits you will not qualify for the credit.

    If you think you qualify, and TT missed it, In TurboTax (TT), enter at:

    Federal Taxes Tab

    Deductions & Credits

    -Scroll down to:

    --Other deductions & Credits

      -Elderly or Disabled credit

    See schedule R for detailed calculations. https://www.irs.gov/pub/irs-pdf/f1040sr.pdf

     

    A simplified  rule of thumb is:  if you have earned a  social security benefit, including SSDI, you won't qualify for the Credit for the Elderly and Disabled.

    April 14, 2025

    Do you mean the credit for Elderly and Disabled?

     

    There is a credit for the Elderly and Disabled which is so small that very few people benefit from it—-it has not been updated/increased by Congress for decades.

     

    ELDERLY OR DISABLED CREDIT https://www.irs.gov/help/ita/do-i-qualify-for-the-credit-for-the-elderly-or-disabled

     

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**