@nedhaynes - i have yet to identify a FINANCIAL reason to file Separately. Congress passes tax laws that protect the sactimoney of marriage - what that means is they don't incent married couples to file other than Joint. That is why 96% of married couples file Joint.
If the reason is to file Sepraate is to lower taxes, it is normally 'fools gold',. Rather, the benefit is to separate tax liability (but there is a way around that as well). If you owe back taxes or child support, it's normally better to file Joint and then file the Injured Spouse form so the your spouse's refund is protected from garnishment.
As an example (and often overlooked issue of filing Separate), if you (and / or your spouse) are on Social Security, and are living together, then 85% of the social security income is AUTOMATICALLY taxable. The normal formula to determine how much is taxable doesn't apply.
Also, you must both either take the standard deduction or both itemize. One can't itemize while the other takes the standard deduction. The further apart the incomes are, the more problematic that becomes as the benefit of itemizing is lost.
see this link:
https://www.irs.gov/publications/p504#:~:text=joint%20liability%2C%20earlier.-,Married%20Filing%20Se....
and this IRS statement:
Separate returns may give you a higher tax.
"Some married couples file separate returns because each wants to be responsible only for his or her own tax. There is no joint liability. But in almost all instances, if you file separate returns, you will pay more combined federal tax than you would with a joint return."
Now if you can't agree to both sign the tax return (which to me is an emotional issue and not a financial issue), then filing Separate is the only remaining choice.
On the investment property, who owned it? You or both of you?
