Thanks Kris,
Okay, so my wife and I have completed 2 MFS returns. We each have completed the "community property" section and all that info is on form 8958 which each of us has filled out.
The net effect is as you'd expect... My "taxable income" is essentially identical to my wife's taxable income.
However, Turbo is showing that I owe about 25% more tax than my wife. We are both in the same tax bracket, but TT is showing an "effective tax rate" lower for my wife than for me.
Any idea why?
The only difference between us and our incomes is that I have about 2X the amount of W2 income. We each have K-1 income (but it is 50/50 -- we each have a 50% share of a partnership).
We each reported our separate W2's (using exact numbers on the W2) on our separate returns then used form 8958 to list all income sources (W2, K-1, 1099) split it all 50/50.
Then we each entered "adjustments" per the community property module. The net adjustments for each are the same.
So... everything seems like it is filled out correctly, everything split 50/50 and documented correctly... but for some reason that is not at all clear is why my tax owed is 25% more than my spouse's?? I can't find any evidence reviewing, the return, all forms and worksheets.
Any ideas?
