amend taxes

[lgotzinger]

I got married in February 2020 and my husband and I were going to file separate. However, when I went to file (in error) I filed jointly. Turbo tax recommended this file status to receive the education credit for my daughter and I. We discovered this when his taxes were rejected and mine had been accepted. Please advise how we need to proceed. His name is on my taxes but his income and other income/deductions are not entered. 

Is there a way we can pull mine back yet and we refile? 

Best regards,

Louise Gotzinger

[xmasbaby0]

No you cannot pull your return back.   You will have to wait for your return to be fully processed and then add your husband's income, etc.  to the return using a Form 1040X.    That form is not yet available for 2020 returns----you have to wait.

[lgotzinger]

Can we send his taxes separate or do I have to amand?

[xmasbaby0]

When you file a joint return it all goes on the same tax return.   No you cannot file his tax return separately if you want a joint return.  So if you already e-filed then you have to wait and amend to add your spouse's information and income.

  You cannot amend a tax return that was just accepted.   You have to wait for it to be processed by the IRS.  Trying to send in an amended return while they are still processing the original return could confuse things and delay your refund for months.

Do not try to change anything on your return now.  When you amend, your Form 1040X has to be prepared from the return exactly the way it looked when you filed it originally.   You have to wait.   Once your return has been processed you will complete a Form 1040X   --- which is not yet available --- and submit it to amend the mistakes made when you filed your original return. It takes the IRS at least four months to process an amended return.

The 2020 Form 1040X does not become available until the end of March 2021 (subject to change).

[xmasbaby0]

If you were legally married at the end of 2020 your filing choices are married filing jointly or married filing separately.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $24,800 (+$1300 for each spouse 65 or older)  You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit. 

If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return. Some of the special rules for filing separately include: you cannot get earned income credit, education credits, adoption credits, or deductions for student loan interest. A higher percent of your Social Security benefits may be taxable. Your limit for SALT (state and local taxes and sales tax) will be only $5000 per spouse. In many cases you will not be able to take the child and dependent care credit. The amount you can contribute to a retirement account will be affected. If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI)

 If  you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice.

https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately

https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states

https://ttlc.intuit.com/questions/1894449-is-it-better-for-a-married-couple-to-file-jointly-or-separ...

[lgotzinger]

I have a mess......:( I filed but didn't realize I filed jointly. Turbo Tax recommended that but we thought it would be better separate. Just to confirm. I will need to amend? If so how soon can I do this?

[xmasbaby0]

Repeating......you cannot amend until the Form 1040X becomes available  in very late March.    You have to wait.  You cannot do anything now but wait for the IRS to process the return you filed.   It is unfortunate---but next year you will know how to file a joint return correctly.   

If you wanted to get education credits---and you mentioned that----then a joint return was the correct choice.  You cannot get education credits if you file married filing separately.   There are a lot of disadvantages to filing separate returns--especially if you have children.