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Retirement tax questions
Hi,
While you certainly may file married filing separately, it typically results in a lower refund. When you file married filing separately you both have to either take the standard deduction or itemized deduction. If you both take the standard deduction, your spouse would not benefit from the full standard deduction of married filing jointly.
You can prepare mock returns as joint, and then as married filing separately and evaluate the best outcome. Here is a great resource, https://turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separ...
I hope this information is helpful!
Connie
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‎July 26, 2023
9:24 AM
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