Married filing seperately with one TurboTax

[BigScuba]

Can we still go through a single copy of TurboTax as we file married filing separately and have our information be transferred over? Will we need to buy another TurboTax?

[xmasbaby0]

You are posting from desktop software so you can e-file up to five federal returns.  Each of you has to prepare your own return so that is two returns.  After one of you prepares your return the other spouse can click Start new return and prepare their own.

However----why do you want to file separate returns--usually the worst way to file?

If you were legally married at the end of 2019 your filing choices are married filing jointly or married filing separately.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $24,400 (+$1300 for each spouse 65 or older)  You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit.

If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return. Some of the special rules for filing separately include: you cannot get earned income credit, education credits, adoption credits, or deductions for student loan interest. A higher percent of your Social Security benefits may be taxable. Your limit for SALT (state and local taxes and sales tax) will be only $5000 per spouse. In many cases you will not be able to take the child and dependent care credit. The amount you can contribute to a retirement account will be affected. If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI)

If  you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice.

https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately

https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states

https://ttlc.intuit.com/questions/1894449-is-it-better-for-a-married-couple-to-file-jointly-or-separ...

[BigScuba]

Wow, thank you so much for the quick and informative reply. We weren't living together in 2019 and divorced in October. We have kids and still get along and are trying to get taxes done. I figure I will owe and shell get a return. I didn't do well and drove for rideshare so I was self employed. 

[xmasbaby0]

Whoa----if you were divorced before the end of 2019 you are not filing married filing separately.   Your filing status is determined as of the end of 2019.  You say you divorced in October.  That means you are either Single or maybe Head of Household.  The one who is the custodial parent can file as Head of Household--the other is Single.

Am I Head of Household?

https://ttlc.intuit.com/questions/1894553-do-i-qualify-for-head-of-household

https://ttlc.intuit.com/questions/2900097-what-is-a-qualifying-person-for-head-of-household

If you qualify as Head of Household, when you enter your filing status (single or married filing separately) into MyInfo, and then enter your qualifying dependent, TurboTax will offer HOH as your filing status.

Do you have a signed Form 8332?  If so---the custodial parent can file Head of Household, get earned income credit and childcare credit.

The non-custodial parent can get the child tax credit.

[BigScuba]

Ok one last snafu then, we have twins and have agreed to each claim one. Sounds like two totally separate files and two separate TurboTax programs. Would we then each be heads of our own households? Haha sounds silly but this is new to me. And no 8332 that I'm aware of, it was written in the divorce that we will both claim a child on taxes. I truly appreciate your help.

[xmasbaby0]

Umm....we do not know what goes on in the household---the rule for HOH is the custodial parent is the one who had the kids for the most nights--at least 183 nights.

You posted from desktop software and if you are on friendly enough terms you both can still use that program--it can be used for up to five federal e-files.  No need to buy another software program if the two of you are okay with using the program on the same computer-- or if you each have a computer you are allowed to use the license code on any computers you own--doesn't seem like too much of a stretch to share the code for ex's computer.