Yes, and the answer is yes to all of your questions. First of all, if you live in a community property state(s) of Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin then you are required to file a 8958 in your return. Here is the best practice in Turbo Tax.
- Log into Turbo Tax or open your software
- Choose one of the options to pick up where you left off
- Go to the magnifying glass with the search bar at the top right, and type in 8958.and then press continue
- Choose the link that says Jump to 8958,
- This is where you start entering information. This is the community property page that will appear and the pages that follow it.
- To complete this section properly, you will need to report your income and your spouses income. The same for the credits and deductions. Once it's reported Turbo Tax will make the 50/50 allocations for you. Your don't need to do anything other than entering your information and your spouses information correctly.
- Your spouse will need to report their information accurately when they prepare their returns
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