I built the original 2024 TurboTax return as Married Filing Jointly. However, the What-If worksheet split most of the values in half, and the results were more favorable as Married Filing Separately.
Is there a way to automatically create the two MFS returns without having to manually enter the differing data across all the impacted sections?
Thanks in advance!
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No, there is not an automatic way to create two MFS returns from one MFJ return.
If you and your spouse are considering using Married Filing Separately filing status, then you either both need to itemize your deductions, or you both use the standard deduction for Married Filing Separately, which is $14,600 for 2024 if under age 65.
Review your entries in the Personal Info section of TurboTax. These entries determine what filing status TurboTax will use and whether TurboTax will use itemized deductions or the standard deduction.
When you select Married Filing Separately, TurboTax asks follow-up questions. If you select that either you or your spouse itemize deductions, TurboTax displays the following statement: "Note: You both must itemize your deductions on each of your returns, or both of you must take the standard deduction. If only one of you wants to itemize, you should consider filing as Married Filing Jointly."
Depending on other factors, it may still be better to file jointly. If you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin), you will need to split your community income evenly even if filing separately; the rules vary by state. Also, some tax benefits aren't available for Separate filing status.
You can use TurboTax Online to test different scenarios before deciding to file jointly or separately. Click here for more information from TurboTax on how to decide which filing status to choose.
Click here for tax tips for community property states.
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