How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jon Andrews Your Own Question
Jon Andrews
Jon Andrews, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 3118
Experience:  I deal with all levels of tax planning and controversy - from the ordinary to the complex.
4750
Type Your Tax Question Here...
Jon Andrews is online now
A new question is answered every 9 seconds

If a separated spouse asks to file a joint return to reduce

Customer Question

If a separated spouse asks to file a joint return to reduce taxes on interest earned from his inheritance would this qualify as commingled funds?

In other words, should the separated spouse have filed "married but filing separate" to protect the inheritance and any tax due to the IRS be made from an account opened after separation?
Submitted: 7 years ago.
Category: Tax
Expert:  Jon Andrews replied 7 years ago.

Is is unlikely that the mere filing of a joint return would lead to commingling. Normally, commingling requires that the inherited funds actually go into a joint bank account or something of that nature. Best practice would be to keep everything entirely separate but it is not necessarily absolutely required to do it in the way that you have outlined.

 

jon

Related Tax Questions