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deangela
New Member

What are the benefits of filing jointly with my husband or filing separately. I am itemizing deductions he is not. He also has to pay alamony and makes much more than I

 
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2 Replies
ToddL99
Expert Alumni

What are the benefits of filing jointly with my husband or filing separately. I am itemizing deductions he is not. He also has to pay alamony and makes much more than I

The following articles discuss this issue in some detail. There is no single, best answer - there are many factors to consider and your situation is unique.

 

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

 

How can we compare married filing jointly with married filing separately?

 

There is one key consideration - if you file separately, both of you must use the same method for claiming deductions (either standard or itemized).

What are the benefits of filing jointly with my husband or filing separately. I am itemizing deductions he is not. He also has to pay alamony and makes much more than I

Well----first of all if you file separate returns you cannot have one spouse itemizing and the other one using standard deduction---that is against the rules.   

 

If you were legally married at the end of 2020 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 get the married filing jointly standard deduction of $24,800 (+$1300 for each spouse 65 or older)  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. Your limit for SALT (state and local taxes and sales tax) will be only $5000 per spouse. 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

https://ttlc.intuit.com/questions/1894449-is-it-better-for-a-married-couple-to-file-jointly-or-separ...

**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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