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What do I put on each box on the community property form

property adjustment
property substraction
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1 Reply
JaimeG
New Member

What do I put on each box on the community property form

If you live in a community property state this means that your earnings are joint. I am in Texas and here it means that if you make $40,000.00 and he makes $60,000 then Jointly each of you earns $50,000.00.

Using the same numbers above you would enter $10,000.00 in the addition adjustment box since your Joint Income is $10,000 above your earned income and he would enter $10,000.00 in the subtraction adjustment box for the same reason.

As I mentioned above, I am from Texas. Each state has its definition of how Community Property is accounted for. I have included a TurboTax FAQ regarding Community Property and filing your Taxes. The FAQ suggests that you use the desktop version to Prepare and File your taxes if you choose this status. This is rarely the case but I also agree that TurboTax Desktop is better suited to prepare a return that involves Community Property.

https://ttlc.intuit.com/replies/3301943

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