Why can't I enter my question here?

[jpatrick49]

I would like to find out if it would be better to file married jointly or married separately. I am using Premier. Can I load all the info as if filing separately for each and then jointly?  What is the best way to do this?

[IreneS · Accepted solution]

The married filing jointly status is usually the most beneficial. Normally you are also eligible for more credits (child tax credit, education credits, earned income credit, child and dependent care credit).

Keep in mind that if you are married and file separately:

• You both must itemize your deductions on each of your returns; or 
• Both of you must take the standard deduction. 

It is easier to make the comparison if you are using the CD/Download version of TurboTax, which is installed on your computer.  To do this:

1. Enter all the information for both you and your spouse in the same return.  This will be your MFJ file.
2. When you are finished, save the return.  Indicate in the file name that this is the joint return.
3. Then create files for you individually and your spouse individually.  To do this, while in the joint file, click File > Save As.  You can just use your names as the file name, for example:   Joe.tax20XXand Maggie.tax20XX
4. Go through the individual files and remove the other person's information.

If you are using TurboTax Online, you will have to create a new sign-in for you and your spouse individually and enter only their information.

For more information, please see these two articles:

• When Married Filing Separately Will Save You Taxes

• Should You and Your Spouse File Taxes Jointly or Separately?

[Edited | 4/14/2020 |  1:15pm PDT]