I got married last year and had claimed my wife as a dependent before that. She is a stay-at-home mom. What is the best way to file this year? Together or separately?

[IreneS · Accepted solution]

UPDATED FOR TAX YEAR 2019

In general, the married filing jointly status is the most beneficial, even if only one spouse has income.  If you were married on December 31, 2019, you have the following filing choices:

• Married Filing Jointly
• Married Filing Separately

Married Filing Jointly is usually better than filing separately.  You are eligible for more credits (child tax credit, education credits, earned income credit, child and dependent care credit).

Keep in mind that if you are married and file separately, you both must itemize your deductions on each of your returns, or both of you must take the standard deduction. 

[Edited | 4/9/2020 |  12:57pm PDT]