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Mdfiler
New Member

Filing separately, can my wife claim the rental income and the home is under my name? She is taking care of the property (collecting rent and dealing with tenants etc)

Filing separately with my wife - Rental home is under my name but wife is taking care of it (collecting rent and dealing with tenants). Can she claim the income if any? Thank you

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4 Replies

Filing separately, can my wife claim the rental income and the home is under my name? She is taking care of the property (collecting rent and dealing with tenants etc)

Which state, and why filing separately?
Mdfiler
New Member

Filing separately, can my wife claim the rental income and the home is under my name? She is taking care of the property (collecting rent and dealing with tenants etc)

It’s Maryland. We want to keep the record separate unless it makes a big difference in return.

Filing separately, can my wife claim the rental income and the home is under my name? She is taking care of the property (collecting rent and dealing with tenants etc)

MFS usually results in higher taxes than MFJ

Filing separately, can my wife claim the rental income and the home is under my name? She is taking care of the property (collecting rent and dealing with tenants etc)

If you were married at the end of 2017 your filing choices are married filing jointly or married filing separately.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will each receive the $4050 personal exemption, plus the married filing jointly standard deduction of $12,700 (add $1250 for each spouse over the age of 65).  You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit. 

If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return. Some of the special rules for filing separately include: you cannot get earned income credit, education credits, adoption credits, or deductions for student loan interest. A higher percent of your Social Security benefits may be taxable.  In many cases you will not be able to take the child and dependent care credit. The amount you can contribute to a retirement account will be affected. If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI) If  you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice.


https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately

https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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