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snclemme
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File married but separate or jointly?

 
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2 Replies
MargaretL
Expert Alumni

File married but separate or jointly?

Generally, Married Filing Jointly (MFJ) status is much more beneficial for the taxpayers, as it allows practically all credits and deductions if you qualify for them.

Married Filing Separately (MFS) is usually the most expensive method of filing taxes. The tax rate is higher, many credits are disallowed, such as Earned Income Credit, Child and Dependent Care credit, Education credits, etc. Numerous deduction are reduced or disallowed as well. It would be very rare for the MFS status to reduce tax burden.

You can compare... but you will have to create two separate returns using TurboTax online and compare your tax results with both scenarios. TurboTax Desktop (cd/download) offers what-if worksheet which splits joint return into two separate ones.

For a detailed comparison of both statuses, please click here.

File married but separate or jointly?

I ran the married filing separately and it does reduce out overall tax burden. Is there any reason not to file this way? (Any downside?) Thanks

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