Retirement and Pension Benefits

Official source

Public Act 24 of 2025 allows Michigan taxpayers born after 1952 and aged 67 or older to claim both the standard deduction and the Social Security deduction for tax years 2026–2028. This change removes the previous requirement to reduce the standard deduction by the Social Security deduction amount. It is important to note that the standard deduction will still be offset by the personal exemption amount. Further guidance for tax year 2025 will be available soon.

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Retirement and Pension Benefits

Official source

Public Act 24 of 2025 allows Michigan taxpayers born after 1952 and aged 67 or older to claim both the standard deduction and the Social Security deduction for tax years 2026–2028. This change removes the previous requirement to reduce the standard deduction by the Social Security deduction amount. It is important to note that the standard deduction will still be offset by the personal exemption amount. Further guidance for tax year 2025 will be available soon.