Divorced late last year (Arizona) and will be doing mine and my Ex’s taxes this year. Trying to decide if I should go with TurboTax or hire someone to get it right.
She gets the house and will use the interest on the mortgage on her taxes. I will take the Capital loss carryover. No kids or other issues so simple split.
I know not to import from last year’s taxes I did on TurboTax and must start from scratch on both her and my taxes this year, but here are my questions.
When TurboTax asks if I own a home and had mortgage interest do I simply say “no” on mine and “yes” on hers?
Same with capital carry-over loss – Do I show that I have a Capital loss carryover and just don’t show it ever existed on hers?
What about our state refund, can we split that as income? For instance, if we got $600 back from state last year, do I just put it as $300 for mine and $300 for hers? (or 200/400 or however we decide?)
Will TurboTax ask about my marital status (Will it ask if I recently divorced?) so it will know my situation from that point?
