3057265
My wife and I file as "married filing jointly". TurboTax allows interest income, dividends, and capital gains/losses to be tracked separately between taxpayer and spouse; but I don't see where those separate totals are available. Does TurboTax provide this breakdown?
I've seen the what-if worksheet; but it looks like interest income, dividends, and capital gains/losses are just divided by two - even though we've specified who each transaction belongs to. We each contribute to pay our combined taxes; so to determine our individual contributions, we'd like to divide the the total tax between us according to our separate overall incomes and apply deductions evenly between us.
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Sorry no. You have to allocate it and do the dividing yourself.
That's unfortunate. I imagine every married couple filing jointly, using TurboTax, and having separate incomes might like this ability. Do you know where/how to request this ability?
When you file a joint return you combine all of your income on one tax return. The Form 1040 does not break your income down "per spouse." You may be able to look at the worksheets to see who had what, or you may need to just do your own math and look at the tax documents you received from your employers and financial institutions. There may be other married couples who would like to see it all broken down per spouse, but many married couples simply share all of their income, assets, and debts, which is why they file a joint return.
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