Elderly and Disabled Senior Tax Credit

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If you are 65 or over as of 2020 we will complete Form 1040-SR and Schedule R (Form and Instructions) for you for tax year 2020 when you prepare your Taxes on eFile.com. Simply eFileIT! and we do all the tax math for you. IT = is Income Taxes: PrepareIT yourself, but not alone.

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Generally, the elderly tax credit is 15% of the initial amount, less the total of nontaxable social security benefits and certain other nontaxable pensions, annuities, or disability benefits you've received. 50% of your adjusted gross income will be added and less the AGI limitation amount. In addition, the eFile.com tax software will apply the correct standard deductions for your you are entitled for as a senior. Learn more about 2020 standard deductions by filing status.  

Requirements to Qualify for the Elderly and Disabled Tax Credit:

  • You must be a U.S. citizen or resident alien
  • You must be 65 years of age as of December 31, 2020 for tax year 2020 OR you were under age 65 as of 12/31/2020 and all 3 statements below are true:
    • You retired on disability before Dec. 31, 2020 and you were permanently and totally disabled at the start of retirement.
    • You received total taxable disability income for 2020.
    • You are under age 65 but you retired on total and permanent disability and received taxable disability income, but you have not yet reached mandatory retirement age as of Jan. 1, 2021 or the new tax year.
  • Your filing status also plays a role, for example if you are married you must file a Married Filing Joint return to take the tax credit for the elderly and disabled. You may also take the tax credit if you file as Head of Household.
  • Find more detailed information and Elderly and Disabled Tax Credits.

You must obtain a physician's certification stating that you cannot engage in gainful activity because of your mental or physical condition and that the condition has lasted, or is expected to last, continuously for 12 months or more or that the condition is expected to result in death.

Even if you meet all the qualifications detailed above, you may still be ineligible for the tax credit if your taxable income exceeds set limitations or your nontaxable income is excessive. Listed below, by filing status, are the various income restraints.

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