Per the State of Maryland, a deduction of up to $1,200 is provided for two-income married couples who file a joint income tax return and who both have taxable income. The income can only be from wages, pensions, or business income. This is a state-only deduction that reduces your taxable income.
Allocation Between Spouses Examples:
- Wages- Allocate wages to the spouse who earned the income.
- Pensions - Allocate pensions to the spouse who received the distribution.
- Business - Allocate business income according to owner of the business or participation in the business.
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