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(Art) writes:
> Just a question: > > Did there use to be an extra Federal 1040 exemption for > being blind or age 65? > > Or am I, having lived in several states, remembering these > exemptions from a state return and just imagining they used > to be Federal too? > > Will appreciate any wisdom on these mysterious exemptions > and their disappearance, if any. There are additional allowances for those over Age 65. The amounts have increased for 2003 but, for an idea of how it works, based on 2002 allowances, "The additional amount for age will be allowed if you are age 65 or older at the end of the tax year. You are considered to be 65 on the day before your 65th birthday. Therefore, you can take the additional amount for 2002 if your 65th birthday was on or before January 1, 2003. The additional amount for blindness will be allowed if you are blind on the last day of the tax year. For example, a single taxpayer who is age 65 and legally blind would be entitled to a basic standard deduction of $4,700 and an additional standard deduction amount of $2,300, which is $1,150 for being age 65 and $1,150 for being blind. The total standard deduction would be $7,000. If you or your spouse were 65 or older or blind at the end of the year, be sure to claim the additional standard deduction amounts by checking the appropriate boxes on Form 1040A (PDF) or Form 1040 (PDF). The additional standard deduction amounts cannot be claimed on Form 1040EZ (PDF). Certain individuals are not entitled to the standard deduction. They are: A married individual filing a separate return whose spouse itemizes deductions, An individual who was a nonresident alien or dual status alien during any part of the year; or An individual who files a return for a period of less than 12 months due to a change in his or her annual accounting cycle." "Jack" - John H. Fisher - Philadelphia, Pa - Atlantic City, NJ - West Wildwood, NJ My Newsgroups & Boards at: http://members.aol.com/TaxService/index.html Where Ignorance is bliss, 'tis folly to be wise!=  << ------------------------------------------------->> << The Charter and the Guidelines for submitting >> << messages to this newsgroup are at www.asktax.org >> << ------------------------------------------------->> |
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