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Over-65 Exemption?
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Art



Joined: 25 Aug 2007
Posts: 2

PostPosted: Tue Sep 09, 2003 10:12 am    Post subject: Over-65 Exemption? Reply with quote

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.

Art

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Herb Smith



Joined: 25 Aug 2007
Posts: 561

PostPosted: Wed Sep 10, 2003 10:40 am    Post subject: Re: Over-65 Exemption? Reply with quote

apfeffer@sbcglobal.net (Art) wrote:

> 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 is currently no extra EXEMPTION amount for being over
65 or blind, but rather an increased STANDARD DEDUCTION for
same. Of course, if you itemize, you get no benefit from the
higher standard deduction.

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Helen P. OPlanick EA



Joined: 25 Aug 2007
Posts: 651

PostPosted: Wed Sep 10, 2003 10:40 am    Post subject: Re: Over-65 Exemption? Reply with quote

> Did there use to be an extra Federal 1040 exemption for
> being blind or age 65?

It left us about 1986 or so. But there was one.

Helen, EA in PA
Member of The Tax Gang
President, PA Society of Enrolled Agents
Campaigning for NAEA Board of Directors - Looking for YOUR vote

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Don Priebe



Joined: 25 Aug 2007
Posts: 574

PostPosted: Wed Sep 10, 2003 10:40 am    Post subject: Re: Over-65 Exemption? Reply with quote

> Did there use to be an extra Federal 1040 exemption for
> being blind or age 65?

Sure did. There were checkboxes in the exemption section
next to the taxpayer and spouse lines. Blind or aged
dependents didn't get counted twice however.

> Will appreciate any wisdom on these mysterious exemptions
> and their disappearance, if any.

And then for tax year 1987 we were reformed ...

--
Don EA in Upstate NY

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John H. Fisher



Joined: 25 Aug 2007
Posts: 796

PostPosted: Wed Sep 10, 2003 10:40 am    Post subject: Re: Over-65 Exemption? Reply with quote

apfeffer@sbcglobal.net (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 - TaxService@aol.com
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!=Smile

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Rich Carreiro



Joined: 25 Aug 2007
Posts: 669

PostPosted: Wed Sep 10, 2003 10:40 am    Post subject: Re: Over-65 Exemption? Reply with quote

apfeffer@sbcglobal.net (Art) writes:

> Did there use to be an extra Federal 1040 exemption for
> being blind or age 65?

There *is/are* (note present tense) exactly such an
exemption(s), and have been for years.

--
Rich Carreiro rlcarr@animato.arlington.ma.us

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Bill



Joined: 25 Aug 2007
Posts: 618

PostPosted: Wed Sep 10, 2003 10:59 am    Post subject: Re: Over-65 Exemption? Reply with quote

Art asked:

> 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.

First, Art, they aren't exactly extra "exemptions" -- but
rather, additions to the "standard deduction." You'll find
them immediately after the AGI at top of page 2 on 1040 and
1040A forms. There are boxes to check if the TP (or Spouse,
if MFJ) are 65 or blind -- and the total number of boxes
checked (both MFJ TPs could be 65 and blind) is then
multiplied by a number which is supplied (Last year it was
$1150) -which is added to the normal standard deduction to
arrive at a new total.

Actually, all of this "math" is done for TPs in the
instructions, where a chart is provided showing the correct
total standard deduction for typical TP situations.

This "special treatment" is often forgotten, since it
doesn't apply to or affect those who itemize deductions.

Bill

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Phil Marti



Joined: 25 Aug 2007
Posts: 1266

PostPosted: Wed Sep 10, 2003 10:59 am    Post subject: Re: Over-65 Exemption? Reply with quote

apfeffer@sbcglobal.net (Art) writes:

> 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?

At one time the Federal return gave extra personal
exemptions, but that was replaced with the standard
deduction add-ons some years ago.

Phil Marti
Topeka, KS

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Arthur Kamlet



Joined: 25 Aug 2007
Posts: 2053

PostPosted: Wed Sep 10, 2003 10:59 am    Post subject: Re: Over-65 Exemption? Reply with quote

Art wrote:

> 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.

Yes, indeed, in the far distant past, when dinosaurs still
roamed the earth, there was an additional personal
exemption.

Now there is a much smaller increase to the standard
deduction.

Nothing if the taxpayer finds it better to itemize.

__
Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

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John O'Brien



Joined: 25 Aug 2007
Posts: 5

PostPosted: Wed Sep 10, 2003 10:59 am    Post subject: Re: Over-65 Exemption? Reply with quote

"Art" wrote:

> 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.

Your recollection is correct.
Before 1986, persons 65 or over got an additional personal
exemption. Since that time the tax break for such people
has taken the form of an addition to the standard deduction.
Therefore, no break for seniors who itemize deductions.
The same applies to the blind.

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Shagnasty



Joined: 25 Aug 2007
Posts: 32

PostPosted: Wed Sep 10, 2003 10:59 am    Post subject: Re: Over-65 Exemption? Reply with quote

"Art" wrote:

> 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.

Yes there used to be extra exemptions for age and blindness.
They were replaced by increases in the Standard deductions
about 1986.

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Wayne Brasch



Joined: 25 Aug 2007
Posts: 806

PostPosted: Wed Sep 10, 2003 11:18 am    Post subject: Re: Over-65 Exemption? Reply with quote

"Art" wrote:

> 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.

You are not imagining these things. They were used quite a
few years ago, but no longer exist.

Wayne Brasch, CPA, M. S. Taxation

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Nan Eklund



Joined: 25 Aug 2007
Posts: 239

PostPosted: Wed Sep 10, 2003 11:18 am    Post subject: Re: Over-65 Exemption? Reply with quote

Grrrrrrrrrr. One of the many things I hated in the 1986 changes.
Yes - if you were 65 you got an extra personal exemption.
Now - if you hit 65, you may add an extra amount to your standard
deduction. Of course, if you itemize, you get NOTHING.

This is one of the FEW areas in which California kept a
break for the older taxpayers. We still have an extra
personal subtraction from the tax in addition to the
personal exemption.

Nan, EA in LA

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Tax-Aide



Joined: 25 Aug 2007
Posts: 2

PostPosted: Wed Sep 10, 2003 11:18 am    Post subject: Re: Over-65 Exemption? Reply with quote

apfeffer@sbcglobal.net (Art) wrote:

> Did there use to be an extra Federal 1040 exemption for
> being blind or age 65?

See obverse of IRS F1040. Standard decuction increased for
over 65 and.or blind. Calif increases tax credit by $80 for
65+ and/or blind. Frank, Tax-Aide

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D. Stussy



Joined: 25 Aug 2007
Posts: 1252

PostPosted: Fri Sep 12, 2003 3:18 am    Post subject: Re: Over-65 Exemption? Reply with quote

Art wrote:

> Just a question:
>
> Did there use to be an extra Federal 1040 exemption for
> being blind or age 65?

Yes. Prior to 1987, it was an exemption. Since 1986, it
has been an increased standard deduction, not an exemption.

> Or am I, having lived in several states, remembering these
> exemptions from a state return and just imagining they used
> to be Federal too?

I don't know what you imagine, but they were federal prior to 1987.

> Will appreciate any wisdom on these mysterious exemptions
> and their disappearance, if any.

There is no wisdom where Congress was involved.

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