topic I am trying to determine whether to file married filling jointly or separately. If I chose married filing separately, how could I obtain wife's return besides mine? in Get your taxes done using TurboTax

I am trying to determine whether to file married filling jointly or separately. If I chose married filing separately, how could I obtain wife's return besides mine?

sijercic — Wed, 05 Jun 2019 22:56:18 GMT

The point is to estimate most effective filing and compare results, filing jointly vs. filling separately and having mine and wife's tax return.

You must look at your income plus your spouse's income as...

NancyG — Wed, 05 Jun 2019 22:56:19 GMT

You must look at your income plus your spouse's income as one bit pot. One income is taxed on top of the other, not separately and added together on a joint return. You can file married filing separately, however, it is usually not beneficial. There are advantages to married filing jointly, read on:

Couples who file together can usually deduct two exemption amounts from their income and they might more easily qualify for multiple tax credits such as the:

Earned Income Tax Credit
American Opportunity and Lifetime Learning Education Tax Credits

Exclusion or credit for adoption expenses

Child and Dependent Care Tax Credit

Joint filers mostly receive higher income thresholds for certain taxes and deductions – this means they can earn a larger amount of income and potentially qualify for certain tax breaks.

Consequences of filing your tax returns separately

On the other hand, couples who file separately receive few tax considerations. Separate tax returns may give you a higher tax with a higher tax rate. The standard deduction for separate filers is far lower than that offered to joint filers.

In 2016, married filing separately taxpayers only receive a standard deduction of $6,300 compared to the $12,600 offered to those who filed jointly.
If you file a separate return from your spouse, you are automatically disqualified from several of the tax deductions and credits mentioned earlier.
In addition, separate filers are usually limited to a smaller IRA contribution deduction.
They also cannot take the deduction for student loan interest, or the tuition and fees deduction.
The capital loss deduction limit is $1,500 when filing separately, instead of $3,000 on a joint return.

When you might file separately

In rare situations, filing separately may help you save on your tax return.

For example, if you or your spouse has a large amount of out-of-pocket medical expenses to claim and since the IRS only allows you to deduct the amount of these costs that exceeds 10% of your adjusted gross income (AGI), it can be difficult to claim most of your expenses if you and your spouse have a high AGI.

Filing separate returns in such a situation may be beneficial if it allows you to claim more of your available medical deductions by applying the 10% threshold to only one of your incomes.

There is a temporary exemption from Jan. 1, 2013 to Dec. 31, 2016 for individuals age 65 and older and their spouses. If you or your spouse are 65 years or older or turned 65 during the tax year you are allowed to deduct unreimbursed medical care expenses that exceed 7.5% of your adjusted gross income. The threshold remains at 7.5% of AGI for those taxpayers until Dec. 31, 2016.

Deciding which status to use

The best way to find out if you should file jointly or separately with your spouse is to prepare the tax return both ways. Double check your calculations and then look at the net refund or balance due from each method. If you use TurboTax to prepare your return, we’ll do the calculation for you, and recommend the filing status that gives you the biggest tax savings.

Re: I am trying to determine whether to file married filling jointly or separately. If I chose married filing separately, how could I obtain wife's return besides mine?

anneglaser — Wed, 29 Dec 2021 15:52:13 GMT

how do Turbo tax do the calculation? do i put in all the information, as if i were doing a joint return?

Re: I am trying to determine whether to file married filling jointly or separately. If I chose married filing separately, how could I obtain wife's return besides mine?

VolvoGirl — Wed, 29 Dec 2021 16:46:20 GMT

No. You have to manually do separate returns. Online is only good for 1 return. But you can use the same email address for 5 accounts. So you should use the Desktop program if you can. The Desktop program can do unlimited returns and efile 5 for free.

How to start another return in the Online version
https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-start-another-return-in-turbotax-online/00/25596

May I ask why you want to file Married filing Separate?

Unless you have a specific reason to file separate returns,

It is usually better to file Joint. Joint has the lowest tax rates and the highest Standard Deduction. And if you are in a Community Property state MFS gets tricky to figure out. Here's some things to consider about filing separately……

In the first place you each have to file a separate return, so that's two returns. And if you are using the Online version that means using 2 accounts and paying the fees twice.

Many people think they come out better when filing Married Filing Separate but they are probably doing it wrong. If one person itemizes deductions then the other one must itemize too, even if it's less than the standard deduction, even if it is ZERO!

And there are several credits you can't take when filing separately, like the

EITC Earned Income Tax Credit

Child Care Credit

Educational Deductions and Credits

And contributions to IRA and ROTH IRA are limited when you file MFS.

Also if you file Married Filing Separately up to 85`% of your Social Security becomes taxable right away even with zero other income.

See …….
https://ttlc.intuit.com/community/married/help/is-it-better-for-a-married-couple-to-file-jointly-or-separately/00/25590

Re: I am trying to determine whether to file married filling jointly or separately. If I chose ma...

DanielV01 — Wed, 29 Dec 2021 16:48:14 GMT

To compare between filing jointly and filing separately, the answer is yes. You will start the return as if you plan to file jointly, and TurboTax has a tool to compare the two filing statuses. This Help Article explains: How can we compare married filing jointly with married filing separately?

It is extremely rare that Married Filing Separately produces a significantly better tax result. And if you live in a community property state and are wishing to file separately, that can be even more complicated. But there are many other reasons why a married couple may choose to file separately or have no choice but to file as Married Filing Separate. The tool referenced above can help you to determine how your choice will affect you on your tax return.

@anneglaser

Re: I am trying to determine whether to file married filling jointly or separately. If I chose ma...

Mike9241 — Wed, 29 Dec 2021 23:30:11 GMT

with MFS all your spouse needs to furnish you - her name as used on her return, SSN and whether she used the standard deduction or itemized since both taxpayers must use the same method. your spouse does not have to furnish you with a copy of her return and you are not entitled to get a copy from the IRS. for a joint return, both taxpayers must consent (a written consent is not required). it is actually criminal for one spouse to file a joint return without the consent of the other.