IRS Publication 524: Credit For The Elderly Or Disabled

Publication 524 explains the Credit for the Elderly or Disabled (CED), a tax credit available to qualified individuals aged 65+ or permanently disabled. It details eligibility, calculation methods, and filing procedures to help you potentially reduce your tax burden.

Who qualifies?

You can potentially claim this credit if you meet any of the following criteria:

A. Age 65 or older: You must be 65 or older at the end of the tax year.

B. Permanently and totally disabled: You must be retired due to a permanent and total disability, and have received taxable disability income in the tax year.

C. Married filing jointly with a non-disabled spouse: If you're married and your spouse is under 65 but retired due to permanent and total disability, you might still qualify.

How much is the credit?

The credit amount depends on your income and filing status. It ranges from $3,750 to $7,500 in 2023.

Claiming the credit:

  • To claim the credit, attach Schedule R to your Form 1040 or 1040-SR tax return.
  • Publication 524 provides detailed instructions on calculating your credit amount and completing the schedule.