Filing Status

[Anonymous]

I got married this year trying to decide if I should file single or married, My wifes only income is Social Security at apx. $2200.  My adjusted gross income is apx. $56,000

[JandKit]

Hi nonwizard,

Thank you for this question! Single is not an option for you this year!

The ideal way to file for you would be married filing jointly if your spouse does not have any tax issues.

If you file married filing separately, your wife's social security income becomes immediately taxable if you live together.  If you file married filing jointly, your standard deduction is $25,900. This means less tax due to the larger deduction. $12,950 if filing separately. Lastly, you would need to file two tax returns instead of one!