- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Here is the rub ... splitting the itemized deductions usually will not work so one person should claim all of the mortgage interest, PMI if any and RE taxes as itemized deductions and the other use the standard deduction.
The higher wage earner will get the best bang for the buck and they should pay the entire bill out of their checking account or a joint account just incase the IRS asks. Of course you can compare all the options before you file ... by using one of the Downloaded versions you will have that ability to do some what if scenarios.
‎November 2, 2020
9:18 AM