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9530c4793j
New Member

Spouse and i are retired. we tied the knot last year. i own a house/property. my husband is a disabled veteran. i want to itemize

husband has to figure his taxes differently because of the disability. i own the house/property before we were married. if we combine our incomes we pay too much tax
3 Replies
xmasbaby0
Level 15

Spouse and i are retired. we tied the knot last year. i own a house/property. my husband is a disabled veteran. i want to itemize

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...

 

 

Best Wishes!

**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.**
ColeenD3
Expert Alumni

Spouse and i are retired. we tied the knot last year. i own a house/property. my husband is a disabled veteran. i want to itemize

If you choose to itemize, he loses his Standard Deduction. It may end up being an even bigger tax burden. You can create a mock return to see if it works out better to file jointly or separately. Just abandon the return when you are done.

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xmasbaby0
Level 15

Spouse and i are retired. we tied the knot last year. i own a house/property. my husband is a disabled veteran. i want to itemize

@9530c4793j You mentioned that your spouse is a disabled veteran.   Is he receiving veterans benefits from the Veterans Administration?   If that is his income it does not go on a tax return.  VA benefits are not taxable.   Or is he on Social Security?   

**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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