Hello and thanks for the guidance! Very helpful. I reviewed the What if feature and the MFJ vs MJS option. I see that TT initially allocated all non wage income, like interest, div, cap gains, and other items like student loan interest paid 50% / 50%, though would it be more accurate and correct to allocate those items based on who's name on the Form 1099 appears?
Also, if one does file two separate returns for each person, do all the other person's wage, income, and other income, deduction, or credit items need to be input into each return? And if so, it would seem that the amounts would then be taxed in both individual's returns. Can you please advise and explain?
Thanks very much.
