Senior Homeowner Double Deduction Calculator
For 65+ owners with property tax and pension income.
The short answer: At the numbers below, the senior bonus deduction is $12,000 — $1,440 back at 12% ($55 per paycheck). Your property tax may separately add a SALT deduction; run both pages.
Must be 65+ to qualify
Modified Adjusted Gross Income
Senior Bonus Deduction
$12,000
✅ You qualify for the full deduction
⚠️ This calculator provides estimates for informational and educational purposes only. It is not tax advice. Results are based on the One Big Beautiful Bill Act (OBBBA) and IRS Schedule 1-A. Consult a qualified tax professional for your specific situation.
The Two OBBBA Levers for Homeowners
Seniors get the $6,000/person bonus AND the boosted SALT cap ($40,000 through 2029, phase-outs apply) — they stack.
- • Senior bonus: age-based, above-the-line
- • SALT: property + state income taxes, itemized
- • The bigger standard deduction under OBBBA means SALT only pays if you itemize
Worked Example
MFJ homeowner couple, $92,000 MAGI.
- • Bonus deduction $12,000; savings $1,440 at 12%
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Frequently Asked Questions
Can seniors claim both the bonus and the SALT cap increase?
Yes — different mechanisms (above-the-line bonus vs itemized SALT) that stack, subject to each one's phase-outs.
Is the SALT deduction worth it with the big standard deduction?
Only if itemizing (SALT + mortgage interest + charity + medical) beats the standard deduction — run both routes.