I am in CA and am married filing separate returns. Pub 555 by the IRS says that wages, earnings and profits should be split 50/50. My husband has a W-2 showing an amount in line 1 and withholdings in line 2. I am retired and only am receiving a pension shown on a 1099R. And a 1099-R from an IRA
Withdrawals from individual retirement arrangements (IRAs) and Coverdell education savings accounts (ESAs). There are several kinds of IRAs. They are traditional IRAs (including SEP-IRAs), SIMPLE IRAs, and Roth IRAs. IRAs and ESAs by law are deemed to be separate property. Therefore, taxable IRA and ESA distributions are separate property, even if the funds in the account would otherwise be community property. These distributions are wholly taxable to the spouse (or registered domestic partner) whose name is on the account. That spouse (or registered domestic partner) is also liable for any penalties and additional taxes on the distributions. Pensions. Generally, distributions from pensions will be characterized as community or separate income depending on the respective periods of participation in the pension while married As i understand the doc 555, we need to split his wages and mine are not split. (We have been married for the last 4 years and I have been retired the last 2 1/2 years).
A] Is it true for 1099-R's the distribution is not split?
B] Are the federal tax withheld still split 50/50 between us?
In Turbo Tax, mine populated a 8958 form and his did not. When I go to his 1040 and search for form 8958 it comes up NOT populated. Only our names and ss#'s are on the top of the form. My 8958 form only shows my income and withholdings and interest.
C] Is the 8958 form where I add amounts together and divide in half and input the numbers in by hand?
I am running out of time and feel the need to apply for an extension but as I understand extensions, we would need to send in any amount due the IRS at the time of asking for the extension or we are liable for penalty and interest in we owe.
D] If we file for an extension and we end up owing money to the feds will we be charged penalty and interest?
