@stbasil123 wrote:
>>So, just to be clear, you realize that you will be losing $12,200 from the Standard Deduction when you file separately, this is not a concern?
I am not clear what you meant. My understanding is when I file MFS my spouse can show std deduction of $12200 for her return and myself can show $12200 in my return as well. Is that right? I am not going to do schedule A anyway as I have nothing to show up there as mortgage interest etc. Please confirm
Your understanding is clear. I just wanted to point out that you will be losing the $12,200 from the Joint tax return when making the decision to file separately.
The other issue is that your tax brackets change when changing from a joint return to a separate return, thereby increasing your tax liability on your taxable income.
