Being old can seem a bit of a tragedy (4)
I believe the answer is:
aged
'being old' is the definition.
('aged' can be similar in meaning to 'old')
'of a tragedy' is the wordplay.
'of' says the answer is hidden in the clue.
'AGED' is hidden within 'tragedy'.
'can seem a bit' acts as a link.
This may not be correct. Some or all of it may belong to another bit of the clue.
Can you help me to learn more?
(Other definitions for aged that I've seen before include "not a modern copy" , "Like Uncle Arly" , "way over the hill" , "Time-worn" , "Senescent" .)