Married October 2023, but bought a house by myself in July 2023

[jmensch33]

I got married October 2023, but bought a house without my now-spouse in July 2023.  Would I benefit more from filing single or married?

[xmasbaby0]

You say you are married.  Filing "single" is not an option for you.

If you were legally married at the end of 2023 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 $27,700 (+$1500 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...

[SwapnaM]

@jmensch33 Thanks for the question!! Congrats on tying the knot!

Because of the way the IRS writes tax code, married couples who file jointly can get higher breaks than they did when they were single. You have to choose between MFJ & MFS. You cannot file a single. You can compare your estimated taxes for filing jointly vs. separately with TaxCaster.  

How can I compare Married Filing Jointly with Married Filing Separately? 

When you file separately, your tax rate is higher and you won't be able to claim:

• Education benefits
• Earned Income Credit (EIC)
• Child and Dependent Care Credit (usually)
• Adoption Credit (usually)
• The standard deduction if your spouse is claiming itemized deductions
• The full benefit for itemized deductions, the Child Tax Credit, and capital losses (you'll get only half compared to married filing jointly)