765177
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

What is the difference between filing seperatley and married joint filing, and how many credits do I loose for earned income?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

What is the difference between filing seperatley and married joint filing, and how many credits do I loose for earned income?

There are many disadvantages to filing married filing separately vs. married filing jointly. See this FAQ for a comparison: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1894449-is-it-better-for-a-married-couple-to-file-jointly-or-separ...>

What is the difference between filing seperatley and married joint filing, and how many credits do I loose for earned income?


If you were legally married at the end of 2018 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 $24,000 (+$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...


**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

What is the difference between filing seperatley and married joint filing, and how many credits do I loose for earned income?

You are asking from TT Live, for which you paid extra. Please contact a Live rep.

https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

Live help is available M-F during normal business hours after tax season.


Hal_Al
Level 15

What is the difference between filing seperatley and married joint filing, and how many credits do I loose for earned income?

Q. How many credits do I lose for earned income, filing Married Filing Separately?

A.  You lose the Earned Income credit. You do not lose the refundable portion of the Child Tax credit.

But, as the other answers say, you lose MANY other tax benefits, not associated with earned income.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question