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As long as you were married as of December 31, 2022 you can file Married Filing Jointly. It is also your choice to file Married Filing Separately; but you may lose access to certain credits and deductions that may be valuable to some; and lower your tax liability or increase your refund. Especially since the standard deduction according to the IRS: for married couples filing jointly for tax year 2022 rises to $25,900 up $800 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $12,950 for 2022, up $400, and for heads of households, the standard deduction will be $19,400 for tax year 2022, up $600.
So, if both your incomes combined can be reduced by filing together you may have no tax due and a larger refund, due to 25,900 being taken off your taxable income if married filing jointly. If Married Filing Separately or Single you only get a 12,950 deduction each, rather than being able to combine them.
Keep in mind, if you file MFS your husband will have to do so as well. And if you file MFJ you both report and get the total standard deduction of $25,900 off your taxable income for tax year 2022, unless you itemize and have large expenses such as medical paid out of pocket, etc.
ee-ea makes a good point too, above.
@tawneemichelle4
As long as you were married as of December 31, 2022 you can file Married Filing Jointly. It is also your choice to file Married Filing Separately; but you may lose access to certain credits and deductions that may be valuable to some; and lower your tax liability or increase your refund. Especially since the standard deduction according to the IRS: for married couples filing jointly for tax year 2022 rises to $25,900 up $800 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $12,950 for 2022, up $400, and for heads of households, the standard deduction will be $19,400 for tax year 2022, up $600.
So, if both your incomes combined can be reduced by filing together you may have no tax due and a larger refund, due to 25,900 being taken off your taxable income if married filing jointly. If Married Filing Separately or Single you only get a 12,950 deduction each, rather than being able to combine them.
Keep in mind, if you file MFS your husband will have to do so as well. And if you file MFJ you both report and get the total standard deduction of $25,900 off your taxable income for tax year 2022, unless you itemize and have large expenses such as medical paid out of pocket, etc.
ee-ea makes a good point too, above.
@tawneemichelle4
Thank you 🙏 This is very helpful!
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