I need help finishing my taxes, can someone help me please?

[kmullings12]

I need help with filing married but separately itemized deductions vs standard deductions?

[xmasbaby0]

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...

[TimothyH46]

They said my federal taxes are not correct it's say that my 2019 AIG numbers isn't correct and it is I have my 2019 transcript

[TimothyH46]

Need to talk to a specialist

[xmasbaby0]

@TimothyH46

You received an email that we cannot see that tells you why your tax return was rejected.   What is the rejection code or rejection message?  If it was rejected for AGI—-be aware that many 2019 returns took so long for the IRS to process that your 2019 AGI might not be in the IRS system.   Try using zero instead.

https://ttlc.intuit.com/community/agi/help/where-do-i-correct-my-agi-in-turbotax-online/00/26311

If that does not work and you still cannot e-file, then print, sign, and mail your tax return.

If filing with zero is rejected then file again but select the option that you did not file last year.  The IRS does not see that question and it will allow you to e-file with no AGI question

[carolandbobp]

Hello 

I hope you can help me.  Have been using TT for past 12 years and so far have been doing ok.  This year however I have a question   Is about m y deductions. 

I due to my age have to take out (I think 4 1/2 % ) from my Fidelity savings annually.  In december I had them send my final withdrawal $4, 889 directly to my church as I always donate to them.  Since I did it this way can I still list it as a deduction to charity like usually do?  

Thank you for any answers 

[BillM223]

"I due to my age have to take out (I think 4 1/2 % ) from my Fidelity savings annually. " - this sounds like an RMD (Required Minimum Distribution). Were you at least 70 1/2 last year?

When you asked Fidelity to withdraw the money, did you ask them to make it a trustee to charity direct transfer (this is required for a QCD).

A QCD is a "qualified charitable distribution". Instead of you recognizing the 1099-R as income and then deducting the charitable contribution as a deduction on Schedule A, instead, the income is never listed as taxable on the 1040, so you don't have to worry about Schedule A limits.

A QCD can qualify as part or all of an RMD.

So, CarolandBob, did you tell Fidelity to transfer the money directly to the charity? If so, you can report this as a QCD. If not, you will have to report this on Schedule A.

@carolandbobp