filing jointly is usually better. filing separately can result in loss of certain credits and deductions, if one of you itemizes both must and if one uses the standard deduction both must, then there are the passive activity loss rules. generally, if two parties own a property, income/loss must be split based on respective ownership %'s.
however, the only way to know for sure is to prepare 3 retuns. 1 married filing separately for each of you and 1 joint
