Now I have completed my return filing separately. Want to do the same for my wife and then run a combined return and see which is best for us.
No, you can not. You have to have a separate account/payment for each tax return that you prepare with Turbotax Online version.
When you use Turbotax Online version, you can prepare only one return per account/payment. This Turbotax help topic tells you how to start another return:
https://ttlc.intuit.com/questions/1894512-how-do-i-start-a-second-return-in-turbotax-online
If you want to try MFS vs MFJ
When you use Turbotax Online version, there is no easy way to do that. You will need 3 separate accounts and you will need to prepare 3 different tax returns, one for MFJ, and one for each of you as MFS. That is a lot of work, before you do that consider this:
Each year you can choose to file as Married Filing Separately. However, that may not provide the benefit that you expect, and you will almost always end up paying more in tax than if you file jointly.
The Married Filing Separately filing status is very different than the Single filing status. There are a number of severe restrictions on deductions and credits, and on the amount of IRA contributions that you can deduct, especially if you live together with your spouse.
You can not take the EIC,
You can not take the credit for Child and Dependent Care, in most cases,
You can not take the Education credits/deductions, and there are many other restrictions.
If either of you receive Social Security benefits and you live with your spouse, more of the SS benefit will be taxable, and the person receiving it will have to include the SS benefit in their gross income when determining whether they have to file. If one of you itemizes deductions, the other must also itemize even if they have nothing to itemize.
Before you decide, you should carefully read the restrictions that go with MFS in IRS Pub. 501, at this link:
http://www.irs.gov/pub/irs-pdf/p501.pdf
You should carefully read the limits on IRA deductions in IRS Pub. 590-A at this link:
http://www.irs.gov/pub/irs-pdf/p590a.pdf
In addition, if you live in a Community Property state, there are special rules you must follow for reporting income and expense. For further information on that, see IRS Pub. 555, at this link:
http://www.irs.gov/pub/irs-pdf/p555.pdf
and/or the Turbotax FAQ at this link:
https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states
No, you can not. You have to have a separate account/payment for each tax return that you prepare with Turbotax Online version.
When you use Turbotax Online version, you can prepare only one return per account/payment. This Turbotax help topic tells you how to start another return:
https://ttlc.intuit.com/questions/1894512-how-do-i-start-a-second-return-in-turbotax-online
If you want to try MFS vs MFJ
When you use Turbotax Online version, there is no easy way to do that. You will need 3 separate accounts and you will need to prepare 3 different tax returns, one for MFJ, and one for each of you as MFS. That is a lot of work, before you do that consider this:
Each year you can choose to file as Married Filing Separately. However, that may not provide the benefit that you expect, and you will almost always end up paying more in tax than if you file jointly.
The Married Filing Separately filing status is very different than the Single filing status. There are a number of severe restrictions on deductions and credits, and on the amount of IRA contributions that you can deduct, especially if you live together with your spouse.
You can not take the EIC,
You can not take the credit for Child and Dependent Care, in most cases,
You can not take the Education credits/deductions, and there are many other restrictions.
If either of you receive Social Security benefits and you live with your spouse, more of the SS benefit will be taxable, and the person receiving it will have to include the SS benefit in their gross income when determining whether they have to file. If one of you itemizes deductions, the other must also itemize even if they have nothing to itemize.
Before you decide, you should carefully read the restrictions that go with MFS in IRS Pub. 501, at this link:
http://www.irs.gov/pub/irs-pdf/p501.pdf
You should carefully read the limits on IRA deductions in IRS Pub. 590-A at this link:
http://www.irs.gov/pub/irs-pdf/p590a.pdf
In addition, if you live in a Community Property state, there are special rules you must follow for reporting income and expense. For further information on that, see IRS Pub. 555, at this link:
http://www.irs.gov/pub/irs-pdf/p555.pdf
and/or the Turbotax FAQ at this link:
https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states