Newlyweds, how should we file?
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whitneyr1719
Level 1

Newlyweds, how should we file?

Here is some info. We bought our house in December 2015. Had our first child in January 2018 and were married in September 2018. I was on unpaid maternity leave for 6 weeks, switched to a different location for my company in late August 2018, and went part time November 2018. I grossed about 23k last year and my husband grossed 40k. My questions are..... Should we file married jointly or married separately? If separately, should I claim our daughter and our house or should he? Also, he did not have health insurance after mid April last year and I of course lost benefits when I dropped to part time. Would that affect how we should file? I apologize for all of the questions.
2 Replies
Carl
Level 15

Newlyweds, how should we file?

File joint. If you file separate, you automatically disqualify yourselves for tax credits and deductions you get if you file joint. For example, if you file separate you automatically do NOT qualify for the child tax credit, child care credit, and earned income credit.

Basically, for a married couple to file separate, you will almost always pay more in taxes than if you file joint.

 

Also, he did not have health insurance after mid April last year and I of course lost benefits when I dropped to part time.

 

So a penalty will be assessed, and it has nothing to do with how you file.  If there's a possibility to qualify for an exception to the penalty (either one or both of you) the program will know based on the data you enter, and offer you options to either negate, or at least reduce the penalty.

whitneyr1719
Level 1

Newlyweds, how should we file?

Thank you!!
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