Roughly 1.2 million Indiana retirees are expected to gain from a new federal deduction that exempts most Social Security income from taxation starting in 2026. The One Big Beautiful Bill

If your income exceeds $150,000 for a single adult or $250,000 for a married couple, you won't qualify for the $6,000 senior deduction. However, you're still eligible to claim your standard deduction and the $2,000 senior deduction that was already in place before the BBB passed.

Tax deductions introduced in the "One Big, Beautiful Bill" could benefit older and working Americans the next time they file taxes.