Here's exactly what Social security retirees need to do to qualify for the new tax deduction

"The new tax deduction is available through 2028, and all eligible seniors can claim it. You do not need to be actively collecting Social Security to be eligible."

"The new tax break created by the One Big Beautiful Bill Act allows seniors to claim a $6,000 deduction. This is per person over 65, so married couples can claim a total of a $12,000 deduction if both spouses are 65 or older."

"Deductions reduce your taxable income. They don't work like credits, which reduce your tax bill on a dollar-for-dollar basis."

The One Big Beautiful Bill Act offers a new tax deduction for seniors aged 65 and over, available until 2028. Eligible individuals must have a modified adjusted gross income below specified thresholds. The deduction allows seniors to claim $6,000, or $12,000 for married couples, in addition to standard or itemized deductions. This deduction reduces taxable income, making it less likely for Social Security benefits to be taxed. Claiming the new deduction does not require the standard deduction to be claimed.

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