Married filing jointly - we just file 1 return correct?

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Correct. You have two choices, married filed jointly or married filing separately. Married filing jointly is usually the best way to file for most people. You are correct, it will be all together on one tax return.

Yes. The Married Filing Jointly filing status creates one return with income and deductions reported for each spouse. It allows the taxpayer to receive a higher standard deduction and possibly additional tax credits that are not available under the Married Filing Separately status.

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