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maweiler
Returning Member

dependent care benefits on w2 but I can't enter my day care expenses. Married filing separately so I don't get the credit but need to complete 2441 part III

 
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dependent care benefits on w2 but I can't enter my day care expenses. Married filing separately so I don't get the credit but need to complete 2441 part III

You will not get the childcare credit if you file MFS  (why are you doing that?)  The amount you have on your W-2 for childcare benefits will just be treated as taxable income to you.

 

To get rid of the 2441

https://ttlc.intuit.com/questions/2580507-how-do-i-delete-form-2441-in-turbotax-online

 

Why are you filing MFS?  You lose child-related credits when you file that way--as you already see, you are losing the childcare credit.   And the amount of income used to calculate your child tax credit is affected too.

 

If you were legally married at the end of 2019 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 $24,400 (+$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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