If you have already created a
joint return in the TurboTax CD/Download software, here's a quick way to see
how filing separately affects your federal return (this won't work in TurboTax
Online):
- Open your return and switch to Forms Mode.
- Open
the What-If Worksheet (it
may appear as What-If Wks).
- Check
the MFJ vs. MFS box
at the top.
- Scroll
down to Balance Due (Refund) located
under Line 74.
- The
second column shows the federal outcome for a joint return, and the third
and fourth columns, respectively, show the outcome for the taxpayer and
spouse if filing separately.
- Negative
numbers are refunds, positive numbers are taxes due.
However, this doesn't give you
the whole picture because it doesn't account for your state return. For a
true "apples to apples" comparison, you'll need to prepare your
returns both ways.
Related
Information:
