Introduction If you qualify, the law provides a number of credits that can reduce the tax you owe for a year. One of these credits is the credit for the elderly or the disabled. This chapter explains: Who qualifies for the credit for the elderly or the disabled, and How to figure this credit. The maximum credit available is $1,125. You may be able to take this credit if you are: Age 65 or older, or Retired on permanent and total disability.