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Get your taxes done using TurboTax
It is hard with filing Separate because you cannot claim some credits you maybe entitled to. Generally, filing jointly will give you a bigger refund or less taxes due. When you file separately, your tax rate is higher and you won't be able to claim:
- Education benefits
- Earned Income Credit (EIC)
- Child and Dependent Care Credit (usually)
- Adoption Credit (usually)
- The same benefit married filing jointly couples get for personal exemptions, itemized deductions, the Child Tax Credit, and capital losses (all of these deductions are reduced by half)
- Itemized deductions if your spouse has already claimed the standard deduction, or the other way around.
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When Married Filing Separately Will Save You Taxes
May 31, 2019
9:09 PM
348 Views