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Senior Tax Deductions and Credits
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Capital Gains Exclusion
Exclusion of capital gains from the sale of primary residence
Disability Deduction
Deduction for seniors with a permanent disability
Education Credit
Credit for expenses related to higher education
Earned Income Tax Credit
Credit for low to moderate income working seniors
Long-Term Care Insurance Deduction
Deduction for premiums paid on long-term care insurance
Medical and Dental Expenses Deduction
Deduction for health-related expenses
Investment Interest Expense Deduction
Deduction for interest paid on money borrowed to make investments
Energy Efficiency Credits
Credits for home improvements that enhance energy efficiency
Standard Deduction
Increased amount for seniors
Property Tax Deduction
Deduction for property taxes paid
Business Expense Deduction for Self-Employed
Deduction for business expenses if self-employed
Charitable Contributions Deduction
Deduction for donations to qualified organizations
Retirement Accounts Contributions Credit
Credit for contributions to retirement accounts
Senior Tax Credit for the Elderly
Non-refundable credit for low to moderate income seniors
Sale of Stock Deduction
Deduction related to capital losses from the sale of stocks
Mortgage Interest Deduction
Deduction for interest paid on a mortgage
Credit for the Elderly or Disabled
Credit for low-income seniors or disabled
Home Sale Exclusion for Seniors
Increased exclusion amount for sale of home for qualifying seniors
Dependent Care Credit
Credit for care expenses of a dependent senior
Adoption Credit
Credit for qualified adoption expenses
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