The federal government allows for an increased standard deduction for taxpayers age 65 or older. Does Wisconsin allow for any type of benefit for older or retired taxpayers?
Yes. Persons age 65 or older on December 31, 2010, are not only allowed a $700 personal exemption for themselves, but are allowed an additional personal exemption deduction of $250. If you are married filing a joint return and both you and your spouse were age 65 or older on December 31, 2010, you are allowed an additional exemption deduction of $250 for yourself and $250 for your spouse.
