By Grand Rapids Anonymous
sunday, january 25, 2026 at 10:21:00 p.m. est
About that "big, beautiful, senior tax deduction"
I figured out my federal taxes tonight and sent them in. The "big, beautiful, senior tax deduction" of $6,000 got me an extra $750 or so.
Not bad, but not the $1300 I was led to believe by some stories.
--GRA
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4 comments:
Yes, you got it. If in the 12% tax bracket, $6,000 excluded from income = $720 less tax, a little more if broke through to the 22% bracket. Double if you're married filing reluctantly, er, jointly with a Mrs. who's also 65+. Too much more and you bump into the soak-the-rich "phaseout" where they gradually boil away the extra deduction. Same pan where the frog sits in the boiling water
You filed already? But don't you have to wait until March to get K-1 forms from the Trusts and Partnerships where you've stashed the really big money?
And the tax-time obamacare mess is worse than ever. Can't tell you how many tax returns are getting rejected because the obamacare 1095-A tax info wasn't put on the tax return. Almost every one of them is totally clueless that they even had a policy and that the feds were pouring thousands of dollars direct to the insurers for coverage they didn't know they had.
Worse yet, the other day a single parent, one kid, tracked down the form, put the numbers into his tax return, *boom*, the income (which was modest) was high enough so he had to repay over $1,000 of the $4,000 "advance premium". By now, he's already been automatically re-enrolled for 2026, same trouble next year. Like being dragged underwater by a giant squid.
I asked a Somali to file early for me. We're splitting the dough. Then I'll file for the high income tax bracket later,lol.
--GRA
I have never filed a 1095-A form and have not had my tax returns rejected.It is my understanding that if your income is too high so that you do not receive tax subsidy then you don't have to file a 1095-A
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