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Investors & landlords
I live in a community property state. we are going to file MFS.
Then everything gets split 50/50.
Be aware that when a married couple files MFS, you both automatically lose out on a number of credits and deductions you would otherwise get if filing joint.
Additionally, if one of you takes the standard deduction, then you both must take the standard deduction, even if the itemized deductions of one is higher.
Likewise, if one of you itemizes deductions, then you both have to itemize deductions even if the itemized deductions of one would be ZERO.
‎April 1, 2022
6:49 AM