Tax Year 2016: What if my spouse was the owner of the rental property?

[jpell17]

My wife and I got married in December of last year, but she owned a home that was a rental in Alabama.    She sold the home in October 2016.  If we are now filing jointly, is it okay that the property is indicated as ours?  or should we file separately because she owned the property before we got married?

[KarenL2]

Yes, it's okay to put it on your joint tax return.  To state that it is hers only, or yours jointly, won't affect any outcome on your taxes. It would affect it, however, if you end up filing separately.  

Your marital status as of December 31st is what the IRS considers regarding taxes.  You will include all income and deductions for both of you, for the entire year, on your Married Filing Joint tax return.

FYI - It almost always results in the best tax results to file jointly.

Is it better for a married couple to file jointly or separately?

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