topic Removing home owner info in Get your taxes done using TurboTax

Removing home owner info

shaunarene22 — Thu, 23 Jan 2025 16:04:20 GMT

My husband and I have been filing as married, filing jointly for a while now but this year it seems the best option is to file separately, since we were filing jointly, and I entered everything in before thinking it was fine, now that I am trying to file separately, under my info/account it still thinks I am the homeowner. My name is not on the house yet, everything regarding the mortgage info is in his name. Is there a way I can delete the info so it's not showing that I am the homeowner? He will need to enter all the mortgage info on his own account when he goes to file his taxes. Will it flag that 2 people are trying to "claim" this house?

Re: Removing home owner info

xmasbaby0 — Thu, 23 Jan 2025 16:17:08 GMT

Not sure why you want to file MFS---that is usually the worst way to file. But if you are trying to use the same account that was used for last year's joint return, it is going to cause problems. It is very difficult to remove the information that was on a past year joint return when you change filing status to single or MFS. You should start a new account with a new user ID to avoid all the errors you are going to get if you keep using the old account.

If you were legally married at the end of 2024 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 $29,200 (+ $1550 for each spouse 65 or older) for 2024. 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 since with online, you get one return per fee.

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-separately

Re: Removing home owner info

JamesG1 — Thu, 23 Jan 2025 16:25:39 GMT

If your spouse is reporting the IRS form 1098 information, remove it from your individual income tax return.

Follow these steps to remove interest and property taxes reported on an IRS form 1098 from your tax return in TurboTax Online.

Click Tax Home in the upper left hand corner of the screen.
In the middle of the screen, click the down arrow to the right of Deductions & credits.
Select Pick up where you left off.
Under Your tax breaks, click to the right of Mortgage Interest and Refinancing (Form 1098).
At the screen Your 1098 summary. click the down arrow to the right.
Select Delete to remove the entry or entries.

With married filing separately tax returns, be advised that if one spouse files with itemized deductions, both spouses must file with itemized deductions.

@shaunarene22